diff --git a/src/main/java/org/codehaus/mojo/versions/DependencyUpdatesReportMojo.java b/src/main/java/org/codehaus/mojo/versions/DependencyUpdatesReportMojo.java
index c83101300..f7c1a30c9 100644
--- a/src/main/java/org/codehaus/mojo/versions/DependencyUpdatesReportMojo.java
+++ b/src/main/java/org/codehaus/mojo/versions/DependencyUpdatesReportMojo.java
@@ -174,8 +174,10 @@ && getProject().getOriginalModel().getDependencyManagement().getDependencies() !
                     // TODO: I'm not 100% sure if this will work correctly in all cases.
                     for ( Dependency dep : getProject().getOriginalModel().getDependencyManagement().getDependencies() )
                     {
+                        dep = getHelper().interpolateVersion( dep, getProject() );
+
                         getLog().debug( "Original Dpmg: " + dep.getGroupId() + ":" + dep.getArtifactId() + ":"
-                                            + dep.getVersion() + ":" + dep.getType() + ":" + dep.getScope() );
+                            + dep.getVersion() + ":" + dep.getType() + ":" + dep.getScope() );
                     }
                     dependencyManagement.addAll(
                         getProject().getOriginalModel().getDependencyManagement().getDependencies() );
diff --git a/src/main/java/org/codehaus/mojo/versions/DisplayDependencyUpdatesMojo.java b/src/main/java/org/codehaus/mojo/versions/DisplayDependencyUpdatesMojo.java
index fa246271b..da5b9a0b8 100644
--- a/src/main/java/org/codehaus/mojo/versions/DisplayDependencyUpdatesMojo.java
+++ b/src/main/java/org/codehaus/mojo/versions/DisplayDependencyUpdatesMojo.java
@@ -535,6 +535,7 @@ public void execute()
                 }
                 else
                 {
+                    dependency = getHelper().interpolateVersion( dependency, getProject() );
                     dependencyManagement.add( dependency );
                 }
             }
diff --git a/src/main/java/org/codehaus/mojo/versions/api/DefaultVersionsHelper.java b/src/main/java/org/codehaus/mojo/versions/api/DefaultVersionsHelper.java
index ce0f210c9..a4d6d3f7f 100644
--- a/src/main/java/org/codehaus/mojo/versions/api/DefaultVersionsHelper.java
+++ b/src/main/java/org/codehaus/mojo/versions/api/DefaultVersionsHelper.java
@@ -895,6 +895,24 @@ else if ( !excludePropertiesList.isEmpty() && excludePropertiesList.contains( pr
         return propertyVersions;
     }
 
+    @Override
+    public Dependency interpolateVersion( final Dependency dependency, final MavenProject project )
+    {
+
+        // resolve version from model properties if necessary (e.g. "${mycomponent.myversion}"
+        if ( dependency.getVersion().startsWith( "${" ) )
+        {
+            final String resolvedVersion = project.getOriginalModel()
+                .getProperties().getProperty(
+                    dependency.getVersion().substring( 2, dependency.getVersion().length() - 1 ) );
+            if ( resolvedVersion != null && !resolvedVersion.isEmpty() )
+            {
+                dependency.setVersion( resolvedVersion );
+            }
+        }
+        return dependency;
+    }
+
     /**
      * Builder class for {@linkplain DefaultVersionsHelper}
      */
diff --git a/src/main/java/org/codehaus/mojo/versions/api/VersionsHelper.java b/src/main/java/org/codehaus/mojo/versions/api/VersionsHelper.java
index 57f03e453..beabeabd5 100644
--- a/src/main/java/org/codehaus/mojo/versions/api/VersionsHelper.java
+++ b/src/main/java/org/codehaus/mojo/versions/api/VersionsHelper.java
@@ -419,4 +419,14 @@ public VersionPropertiesMapRequest build()
      */
     void resolveArtifact( Artifact artifact, boolean usePluginRepositories )
         throws ArtifactResolutionException, ArtifactNotFoundException;
+
+    /**
+     * Attempts to interpolate the version from model properties.
+     *
+     * @param dependency the dependency
+     * @param project the maven project
+     * @return the dependency with interpolated property (as far as possible)
+     * @since 2.14.0
+     */
+    Dependency interpolateVersion( Dependency dependency, MavenProject project );
 }
diff --git a/src/test/java/org/codehaus/mojo/versions/DependencyUpdatesReportMojoTest.java b/src/test/java/org/codehaus/mojo/versions/DependencyUpdatesReportMojoTest.java
index 37850e7dc..b7e853e78 100644
--- a/src/test/java/org/codehaus/mojo/versions/DependencyUpdatesReportMojoTest.java
+++ b/src/test/java/org/codehaus/mojo/versions/DependencyUpdatesReportMojoTest.java
@@ -155,6 +155,12 @@ public TestDependencyUpdatesReportMojo withAllowSnapshots( boolean allowSnapshot
             return this;
         }
 
+        public TestDependencyUpdatesReportMojo withOriginalProperty( String name, String value )
+        {
+            project.getOriginalModel().getProperties().put( name, value );
+            return this;
+        }
+
         private static RepositorySystem mockRepositorySystem()
         {
             RepositorySystem repositorySystem = mock( RepositorySystem.class );
@@ -367,4 +373,27 @@ public void testIt001Overview() throws IOException, MavenReportException
         assertThat( "Did not generate summary correctly", output,
                 containsString( "groupA test-artifact 1.1 compile pom default 1.1.0-2 1.1.3 1.3 3.0" ) );
     }
+
+    @Test
+    public void testResolvedVersionsWithoutTransitiveDependencyManagement() throws IOException, MavenReportException
+    {
+        OutputStream os = new ByteArrayOutputStream();
+        SinkFactory sinkFactory = new Xhtml5SinkFactory();
+        new TestDependencyUpdatesReportMojo()
+            .withOriginalDependencyManagement(
+                dependencyOf( "artifactA", "1.0.0" ),
+                dependencyOf( "artifactB", "${mycomponent.version}" ) )
+            .withDependencyManagement(
+                dependencyOf( "artifactA", "1.0.0" ),
+                dependencyOf( "artifactB", "${mycomponent.version}" ) )
+            .withProcessDependencyManagement( true )
+            .withProcessDependencyManagementTransitive( false )
+            .withOnlyUpgradable( false )
+            .withOriginalProperty( "mycomponent.version", "1.2.3" )
+            .generate( sinkFactory.createSink( os ), sinkFactory, Locale.getDefault() );
+
+        String output = os.toString();
+        assertThat( output, Matchers
+            .stringContainsInOrder( "artifactA", "1.0.0", "artifactB", "1.2.3" ) );
+    }
 }
diff --git a/src/test/java/org/codehaus/mojo/versions/DisplayDependencyUpdatesMojoTest.java b/src/test/java/org/codehaus/mojo/versions/DisplayDependencyUpdatesMojoTest.java
index 905f12e62..25250b203 100644
--- a/src/test/java/org/codehaus/mojo/versions/DisplayDependencyUpdatesMojoTest.java
+++ b/src/test/java/org/codehaus/mojo/versions/DisplayDependencyUpdatesMojoTest.java
@@ -399,4 +399,34 @@ public void testDetermineUpdatedSegment() throws Exception
             assert outputFile == null || !outputFile.exists() || outputFile.delete();
         }
     }
+
+    @Test
+    public void testVersionInterpolation() throws Exception
+    {
+        File outputFile = null;
+        try
+        {
+            outputFile = File.createTempFile( "display-dependency-updates", "" );
+            assert outputFile.exists();
+
+            DisplayDependencyUpdatesMojo mojo = (DisplayDependencyUpdatesMojo) mojoRule.lookupConfiguredMojo(
+                new File( "target/test-classes/org/codehaus/mojo/display-dependency-updates/version-interpolation" ),
+                "display-dependency-updates" );
+
+            // This is just an example of how to create it-style tests as unit tests; the advantage is easier debugging
+            mojo.outputFile = outputFile;
+            mojo.artifactMetadataSource = mockArtifactMetadataSource( new HashMap<String, String[]>()
+            {{
+                put( "dummy-api", new String[] { "2.0.1" } );
+            }} );
+            setVariableValueToObject( mojo, "processDependencyManagementTransitive", false );
+            mojo.execute();
+            List<String> output = Files.readAllLines( outputFile.toPath(), UTF_8 );
+            assertThat( output, not( hasItem( containsString( "mycomponent.version" ) ) ) );
+        }
+        finally
+        {
+            assert outputFile == null || !outputFile.exists() || outputFile.delete();
+        }
+    }
 }
diff --git a/src/test/resources/org/codehaus/mojo/display-dependency-updates/version-interpolation/pom.xml b/src/test/resources/org/codehaus/mojo/display-dependency-updates/version-interpolation/pom.xml
new file mode 100644
index 000000000..19213f0c0
--- /dev/null
+++ b/src/test/resources/org/codehaus/mojo/display-dependency-updates/version-interpolation/pom.xml
@@ -0,0 +1,46 @@
+<project xmlns="http://maven.apache.org/POM/4.0.0" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
+         xsi:schemaLocation="http://maven.apache.org/POM/4.0.0 http://maven.apache.org/xsd/maven-4.0.0.xsd">
+  <modelVersion>4.0.0</modelVersion>
+  <groupId>default-group</groupId>
+  <artifactId>default-artifact</artifactId>
+  <version>1.0</version>
+  <packaging>pom</packaging>
+
+  <properties>
+    <mycomponent.version>1.2.3</mycomponent.version>
+  </properties>
+  
+  <dependencyManagement>
+    <dependencies>
+      <dependency>
+        <groupId>localhost</groupId>
+        <artifactId>dummy-api</artifactId>
+        <version>${mycomponent.version}</version>
+      </dependency>
+    </dependencies>
+  </dependencyManagement>
+
+  <dependencies>
+    <dependency>
+      <groupId>localhost</groupId>
+      <artifactId>dummy-api</artifactId>
+    </dependency>
+  </dependencies>
+
+  <build>
+    <plugins>
+      <plugin>
+        <groupId>org.codehaus.mojo</groupId>
+        <artifactId>versions-maven-plugin</artifactId>
+        <version>${project.version}</version>
+        <goals>
+          <goal>display-dependency-updates</goal>
+        </goals>
+        <configuration>
+          <!-- pluginContext is necessary: it's not being injected by lookupConfiguredMojo -->
+          <pluginContext/>
+        </configuration>
+      </plugin>
+    </plugins>
+  </build>
+</project>