Dandenong apartments prices soar: REIV
Dandenong apartment prices have seen a 22% growth spike in the last quarter, according to REIV data.
In 2017 the REIV noted Dandenong sat in the most affordable suburbs, but Melbourne’s ever-expanding boundaries have meant suburbs up to 70 kilometres from the city have pushed Dandenong out of the 10 most affordable suburbs list.
An example of this surging median price is 79/35 David Street, Dandenong (pictured above).
The two bedroom one bathroom townhouse sold for $420,000 in December 2018.
It saw price growth of $125,000 from its 2015 sale price of $295,000.
Situated within walking distance to Hemmings Park, schools, Dandenong Market, Plaza and Dandenong Hospital the property has easy access to trains, buses, Eastlink and the Monash Freeway.
Another example of the median price in Dandenong is 2/44 Hammond Road (pictured above).
This three bedroom one bathroom townhouse sold for $423,333 in November 2018.
It saw price growth $33,333 from its December 2017 sale price of $390,000.
The home features solar hot water and has no body corporate fees.
An indication of this median price being a target price is 5/16 Norman Court, Dandenong (pictured above).
Set on 198 sqm the property is a two bedroom one bathroom townhouse.
Seeking $400,000 - $440,000, the home has a current rental return of approximately $300 per week.
Located near Dandenong station, schools, shops and Dandenong Central the property also has a one car garage.
| Suburb | Dec-18 Median | Sep-18 Median | Quarterly Change |
| DANDENONG | $415,000 | $340,000 | 22.10% |
| Kew | $830,250 | $696,000 | 19.30% |
| BRUNSWICK EAST | $576,000 | $510,000 | 12.90% |
| BRUNSWICK | $540,000 | $485,000 | 11.30% |
| ESSENDON | $530,000 | $485,000 | 9.30% |
| CROYDON | $597,500 | $550,000 | 8.60% |
| MORDIALLOC | $703,500 | $648,500 | 8.50% |
| ABBOTSFORD | $630,000 | $587,500 | 7.20% |
| CARNEGIE | $552,500 | $516,500 | 7.00% |
| BENTLEIGH | $835,000 | $785,500 | 6.30% |
| PRESTON | $560,000 | $533,500 | 5.00% |
| SOUTH YARRA | $587,000 | $560,000 | 4.80% |
| RICHMOND | $647,500 | $620,000 | 4.40% |
| BRUNSWICK WEST | $500,000 | $480,000 | 4.20% |
| Southbank | $572,500 | $550,000 | 4.10% |
| DONCASTER EAST | $770,000 | $750,000 | 2.70% |
| Toorak | $809,000 | $795,000 | 1.80% |
| North Melbourne | $624,000 | $620,000 | 0.60% |
| PASCOE VALE | $619,000 | $616,000 | 0.50% |
| Docklands | $621,500 | $619,250 | 0.40% |
