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REIV Municipality Snapshot

By Hayzche Ryll Elep

According to the latest REIV data, the City of Frankston recorded the second-highest annual growth for units in Melbourne at 5.1%, with Frankston itself leading the way at 12.8%. 

Frankston South also showed strong performance, with a 4.4% increase in median house prices—the highest in the municipality.

The rental market is thriving, with Frankston and Carrum Downs experiencing at least 10% annual growth in both house and unit rents. Notably, Frankston South unit rents surged by 18.1%, while Frankston and Carrum Downs saw increases of 12.5% and 11.7%, respectively.

We have seen an influx of interstate investors in the last 8 weeks, drawn to the area off the back of the datatrends.

Here’s a quick snapshot:

House Median Rents Annual Change 

Carrum Downs $550 +10.0% 

Frankston $550 +10.0% 

Langwarrin $600 +9.1%

Unit/Apt Median Rents Annual Change 

Frankston South $555 +18.1% 

Frankston $450 +12.5%

 Carrum Downs $525 +11.7%

Top Performing Suburbs (Annual Change):

  • House Prices: Frankston South +4.4%, Carrum Downs +3.0%, Langwarrin +2.6%
  • Unit Prices: Frankston +12.8%, Carrum Downs +2.5%
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