How is Melbourne's seaside suburb of Frankston faring in the current property market?

How is Melbourne's seaside suburb of Frankston faring in the current property market?
How is Melbourne's seaside suburb of Frankston faring in the current property market?

After roughly five years of consistent growth, house values in Melbourne’s suburb of Frankston have seen a substantial downturn over the past 12-months that has affected both houses and units.

With a median house value in 2009 of $300,000, houses reached their peak value in mid-2018 when the median value hit $620,000.

In the past twelve months the median price has dropped too $563,500, representing a 12-month fall of $56,500.

How is Melbourne's seaside suburb of Frankston faring in the current property market?

Similarly, units have experienced a sharp drop in value since the middle of last year.

Peaking at a median of $440,000 in 2018, the value of units dropped to $402,000 representing a 12-month fall of $37,500.

Despite the recent downturn, the median value of units in 2009 was just $202,000.

How is Melbourne's seaside suburb of Frankston faring in the current property market?

The first formal land sale in the region was conducted on the 29 May, 1854.

The 500-metre Frankston Pier is a local landmark of the suburb. Originally built in 1857, it has been both extended as well as repaired a number of times over the years.

To learn all you need to know about Frankston, from median asking rents to household composition, click here.

As a landlord it is important to check the asking rent trend regularly to ensure you are getting the most value out of your investment.

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