Frankston - Melbourne's most affordable and liveable suburb

Frankston is a suburb of Melbourne in Victoria, Australia, in the local government area of the City of Frankston. It is located 41 km south-east of the Melbourne city centre, with a population of 36,097. Due to its geographic location, it is often referred to as “the gateway to the Mornington Peninsula”.

Situated on the eastern shoreline of Port Phillip, Frankston has been a popular seaside destination of Melbourne since the 1880s. Frankston Beach is still one of the most frequented in Victoria, and is recognised as one of the cleanest in Australia. It is also home to one of the largest exhibitions of sand sculpting in the Southern Hemisphere.

According to an article written by the reporter Jemimah Clegg posted in Domain, Frankston has now the title of the most affordable and livable suburb in Melbourne, overtaking Dandenong.

AFFORDABLE AND LIVEABLE SUBURBS DECEMBER 2019

SUBURB	DECEMBER 2019 MEDIAN HOUSE PRICE	LIVEABILITY RANKING
Frankston	$570,000	104
Dandenong	$590,000	143
Belgrave	$640,000	91
Croydon	$705,000	132
Reservoir	$711,000	154
Upwey	$712,750	116
Sunshine	$720,000	114
Bundoora	$725,000	135
Watsonia	$730,000	119
Oak Park	$753,577	145
Coburg North	$761,000	123
West Footscray	$770,000	153
Airport West	$773,000	140
Greensborough	$775,000	101
Ringwood	$777,500	125
Footscray	$788,750	6
Altona	$840,000	111
MacLeod	$850,000	150
Montmorency	$851,500	77
Coburg	$885,000	78
Forest Hill	$888,000	97
Preston	$888,000	102
Oakleigh South	$892,500	117
Mitcham	$895,000	141
Kingsville	$897,500	139
Mordialloc	$900,000	136
Pascoe Vale South	$900,000	142

Source: Domain House Price Report December 2019 and Domain Liveable Melbourne Source: Domain

Frankston represents a great opportunity for first home buyers and investors that are trying to get into the Melbourne market, seeking some capital growth potential.

Some major developments happening in Frankston:

• $160 million Karingal Hub redevelopment
• $6 million for the planning of Frankston Hospital redevelopment, with the intentions of being a $567 million project.
• $150 million to build 500 new parking spaces near Frankston train station
• $10 million towards the redevelopment of Jubilee Park
• Level crossing removals in Frankston City

 

The Frankston house market reached its peak in April 2018 with a median house price of $620,000. This slowly descended until October 2019 where it reached the low of $570,000. This market correction made Frankston the most affordable and liveable suburb of Melbourne.