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):
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