Dandenong: Melbourne’s south-east gem for investors

It combines expert insights from trusted property investors and real estate networks with detailed data analysis to highlight under-the-radar opportunities for investors.

Unlike traditional reports, FAST 50 focuses on future potential rather than past performance, offering investors a clear starting point for their research and due diligence.

Located about 30 kilometres south-east of Melbourne’s CBD, Dandenong is a vibrant regional centre known for its rich industrial heritage and cultural diversity.

Dandenong’s multicultural atmosphere and evolving infrastructure make it an appealing place to live and invest in, attracting a broad mix of residents, including families, young professionals, and workers in manufacturing and logistics.

The suburbs offer a varied property market featuring affordable houses, townhouses, and apartments ideal for buyers and investors seeking long-term growth potential.

Dandenong is well-connected by public transport, featuring the Dandenong train station and easy access to major roads like the M1 and M3 freeways.

The suburb is known for its vibrant shopping precincts, including Dandenong Plaza, alongside numerous parks and recreational facilities.

Significant urban renewal projects are transforming Dandenong into a dynamic urban hub.

Recent developments include the $600 million redevelopment of the “Little India” precinct, aimed at revitalising the area with new housing and community spaces.

With ongoing development, the suburb continues to strengthen its position as a key growth area in Melbourne’s south-east.

Dandenong’s median dwelling price reaches $734,000 with an average annual growth rate of 4.90 per cent.

The rental market is also attractive, with the suburb recording a median rent of $530, representing a yield of 3.80 per cent and a vacancy rate of 1 per cent.

Pure Property Investment expert, Lena Lindley, said that Dandenong’s proximity to Melbourne was key for investors eyeing the area.

“The projected population data from the Australian Bureau of Statistics states that by 2032 Melbourne will have the highest population growth of the top three state capitals at 7.9 per cent,” she said.

As Melbourne continues to attract migration, Dandenong is well-positioned to benefit from ongoing infrastructure developments and economic advancements, making it a promising suburb for sustained growth.

Check all the suburbs in the FAST 50 report here.

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