Mornington Peninsula vs Western Australia: which is better for Airbnb investment? (2026)

Bottom line

Western Australia edges ahead of Mornington Peninsula on higher occupancy (21.4% vs 11.5%), stronger RevPAR (£39 vs £34).

Head-to-head metrics

	Mornington Peninsula	Western Australia
Median occupancy	11.5%	21.4%
Median daily rate	£260	£176
Median RevPAR	£34	£39
Active listings	3,104	11,558
YoY occupancy	+0 pts	-1.6 pts
YoY daily rate	+46.3%	+40.2%
Regulation risk	—	—
Annual night cap	None	None
License required	No	No

Full analysis: Mornington Peninsula vs Western Australia

Western Australia finishes clearly ahead of Mornington Peninsula on our composite of occupancy, revenue per available night and regulation risk — and it is the calendar rather than the price tag doing the work. Western Australia's listings run at 21.4% occupancy against 11.5% in Mornington Peninsula, worth 9.9 extra points of booked calendar every year. Western Australia turns its rate and occupancy into £39 per available night against £34 in Mornington Peninsula, a 12.8% edge on the only yield figure that nets the empty nights out. Those gaps are wide enough to survive a normal year's variance.

The two markets reach their revenue by different routes, which is what makes this pairing worth reading rather than just tabulating. Mornington Peninsula is the rate market: £260 a night against £176, some 47.8% more, but it converts fewer of those nights at 11.5% occupancy. Western Australia is the volume market, filling 21.4% of its calendar at a lower headline price. Revenue per available night settles it: £39 in Western Australia against £34. Rate is what you advertise; RevPAR is what you bank.

That verdict needs a caveat, because Mornington Peninsula is not simply the weaker market of the two. Mornington Peninsula commands 47.8% more per night, £260 against £176. Nightly rates are also climbing faster in Mornington Peninsula, +46.3% over the last year against +40.2% in Western Australia. If your model leans on nightly rate rather than volume, the ordering above can reasonably flip.

Neither Mornington Peninsula nor Western Australia currently has a verified short-term rental regulation record in our register, so the comparison above is a yield comparison only. Regulation is the single largest source of downside in this asset class — an unverified market is an unpriced risk, not an absent one.

The two calendars also behave differently. Mornington Peninsula peaks in September at 49.6% and bottoms in February at 28.9%; Western Australia runs from 55.8% in September down to 32.4% in February. Both swing by a similar amount across the year, so neither offers meaningfully steadier cash flow than the other.

Who each suits, then. Mornington Peninsula suits buyers who want a conventional, lightly regulated entry and who can hold rate through the shoulder season rather than discounting to fill the calendar. Western Australia answers to the same regulatory profile, so the split between them is operational rather than legal: it is the market for an owner whose economics survive high turnover — more bookings, more cleans, more guest contact per pound of revenue. It is the contrarian side: buying it means buying a market that has cooled. Every figure above comes from the same Inside Airbnb snapshot pipeline on both sides, dated 2026-09, filtered to listings with at least one booking in the last twelve months. Occupancy medians are drawn from 3,104 active Mornington Peninsula listings and 11,558 in Western Australia.

Frequently asked questions

Is Mornington Peninsula or Western Australia better for Airbnb investment?

Western Australia, on the data we track. It leads on higher occupancy (21.4% vs 11.5%), stronger RevPAR (£39 vs £34), and a deeper market (11,558 vs 3,104 active listings). Mornington Peninsula is not the weak side of this pair, though — it wins on a higher nightly rate (£260 vs £176).

Which has higher occupancy, Mornington Peninsula or Western Australia?

Western Australia, at 21.4% median occupancy against 11.5% in Mornington Peninsula — a gap of 9.9 points. That is a real but modest edge; a well-run listing in Mornington Peninsula can close most of it. Over the last twelve months Mornington Peninsula was flat and Western Australia shed 1.6 points, so the gap is closing.

Which has higher nightly rates, Mornington Peninsula or Western Australia?

Mornington Peninsula, at £260 a night against £176 in Western Australia — roughly 47.8% more. The nightly rate is not the whole story, though. On revenue per available night — rate multiplied by how often the room actually sells — Western Australia comes out ahead at £39 against £34, so Western Australia's cheaper nights are more than repaid by how often they fill.

Which has stronger year-over-year growth, Mornington Peninsula or Western Australia?

Mornington Peninsula, on occupancy: +0 points over the last twelve months against −1.6 points in Western Australia. Nightly rates rose 46.3% in Mornington Peninsula and rose 40.2% in Western Australia over the same window. One year of movement is a direction, not a trend — weigh it against the regulation picture before treating it as momentum.

Which is the bigger Airbnb market, Mornington Peninsula or Western Australia?

Western Australia, with 11,558 active listings against 3,104 in Mornington Peninsula. Size cuts both ways: a deep market gives you comparables, contractors and an exit, while a thinner one means fewer near-identical rivals competing for the same search results.

How much can you earn from an Airbnb in Mornington Peninsula vs Western Australia?

Western Australia earns more: roughly £14,076 a year for a median listing against £12,466 in Mornington Peninsula. Those are gross booking revenues before cleaning, management, platform fees, furnishing amortisation and tax — budget for a meaningful share of them, and note that a median listing is a median operator, not a good one.

Go deeper on each city

Market guide

Airbnb in Mornington Peninsula →

Occupancy, ADR, neighborhoods, regulation

Market guide

Airbnb in Western Australia →

Occupancy, ADR, neighborhoods, regulation

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