Demand
Neutral▼ falling
Confidence: Low
Selling times are in line with the five-year norm. Latest reading 38.0 against a five-year average of 38.5.
- Latest
- 38
- 12 months ago
- 44.03
- 5-year average
- 38.51
- 5-year range
- 28.8 – 45.1
Dandenong
A standing intelligence briefing: what the market is doing now, how that compares with its own five-year history, and the pipeline items that could change it.
- Median house
- $762,000
- Median unit
- $424,000
- Annual growth
- +4.8%
- Median rent
- $658
- Gross yield
- 4.5%
- Vacancy
- 1.9%
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APD View — Dandenong
Dandenong: conditions stable
Current data indicates conditions in Dandenong are stable. 14 indicators across 5 analytical dimensions inform this reading, with 71% pointing the same way.
Direction
Stable
Confidence
High
Evidence strength
Strong
Direction describes where underlying conditions are moving. It is not a rating, a recommendation or a signal to transact — a market can be improving while remaining expensive, low-yielding or supply-exposed.
Why this confidence — Based on 14 indicators, 60 months of history, 71% of indicators pointing the same way, latest data 29 days old.
Evidence basis — Based on 14 indicators, 1 independent source, 60 months of history. Latest data 29 days old.
What changed
| Indicator | Now | 1 month | 1 quarter |
|---|---|---|---|
| 12-month price growth | 4.5% | 4.5% | 5.5% |
| Building approvals | 60.5 | 61.21 | 67.24 |
| Days on market | 38 days | 40 days | 42 days |
| Rental growth | 5.9% | 5.3% | 6.5% |
| Sales volume | 110 | 110.64 | 117.93 |
| Vacancy rate | 1.9% | 1.9% | 1.8% |
What supports this view
- Median rent — $658 against a historical average of $573. Advertised rents sit above the historical average for this market. Historical percentile: 98.
- Median house value — $760,671 against a historical average of $680,525. House values sit above the historical average for this market. Historical percentile: 98.
- Price-to-rent multiple — 22.22 against a historical average of 22.87. Prices are low relative to rents compared with the historical average. Historical percentile: 2.
- Auction clearance — 64.1% against a historical average of 59.7%. A larger share of auctions is clearing than normal. Historical percentile: 92.
- Gross yield — 4.5% against a historical average of 4.2%. Gross yields sit above the historical average for this market. Historical percentile: 92.
- Population growth — 1.8% against a historical average of 1.6%. Population growth is running above the longer-run average. Historical percentile: 87.
What works against it
- Vacancy rate argues the other way — Vacancy rate reads 1.9% against a 1.5% historical average (93th percentile), which works against the current reading.
- 12-month price growth argues the other way — 12-month price growth reads 4.5% against a 4.8% historical average (17th percentile), which works against the current reading.
- Advertised listings argues the other way — Advertised listings reads 242 against a 206 historical average (80th percentile), which works against the current reading.
- Rental growth argues the other way — Rental growth reads 5.9% against a 6.0% historical average (31th percentile), which works against the current reading.
- Vacancy rate — 1.9%. Rental availability is looser than the historical norm. Historical percentile: 93.
- 12-month price growth — 4.5%. Annual price growth is running below its historical average. Historical percentile: 17.
- Advertised listings — 242. Advertised stock is above the historical average. Historical percentile: 80.
- Rental growth — 5.9%. Rental growth is running below its historical average. Historical percentile: 31.
Market signals
Each signal compares the latest reading with the suburb's own five-year record
Price Momentum
Soft▲ rising
Confidence: Moderate
Annual price growth is 5.9% below the five-year average. Latest reading 4.5 against a five-year average of 4.8.
- Latest
- 4.49
- 12 months ago
- 4.72
- 5-year average
- 4.77
- 5-year range
- 4.2 – 5.5
Rental Conditions
Weak▲ rising
Confidence: High
Vacancy is running 27.5% above the historical average. Latest reading 1.9 against a five-year average of 1.5.
- Latest
- 1.9
- 12 months ago
- 1.31
- 5-year average
- 1.49
- 5-year range
- 1.0 – 1.9
Rental Pressure
Neutral▼ falling
Confidence: Low
Rental growth is 2.5% below the five-year average. Latest reading 5.9 against a five-year average of 6.0.
- Latest
- 5.86
- 12 months ago
- 6.12
- 5-year average
- 6.01
- 5-year range
- 5.3 – 6.7
Affordability
Neutral— flat
Confidence: Low
The price-to-rent multiple sits 2.8% below its five-year average. Latest reading 22.2 against a five-year average of 22.9.
- Latest
- 22.22
- 12 months ago
- 22.51
- 5-year average
- 22.87
- 5-year range
- 22.1 – 23.6
Supply
Weak— flat
Confidence: High
Advertised stock is 17.3% above the five-year average. Latest reading 242.0 against a five-year average of 206.3.
- Latest
- 242
- 12 months ago
- 212.74
- 5-year average
- 206.31
- 5-year range
- 150.5 – 251.4
Liquidity
Firm▼ falling
Confidence: High
Transaction volumes are 11.6% above the five-year average. Latest reading 110.0 against a five-year average of 98.6.
- Latest
- 110
- 12 months ago
- 104.58
- 5-year average
- 98.61
- 5-year range
- 70.5 – 117.9
Population Growth
Firm▲ rising
Confidence: Moderate
Population growth is 8.0% above the longer-run average. Latest reading 1.8 against a five-year average of 1.6.
- Latest
- 1.76
- 12 months ago
- 1.58
- 5-year average
- 1.63
- 5-year range
- 1.4 – 1.8
Development Risk
Firm▼ falling
Confidence: Moderate
Dwelling approvals are 4.8% below the five-year average. Latest reading 60.5 against a five-year average of 63.6.
- Latest
- 60.5
- 12 months ago
- 73.43
- 5-year average
- 63.55
- 5-year range
- 45.3 – 76.2
Investor Activity
Firm▲ rising
Confidence: Moderate
Gross yields are 7.4% above the five-year average. Latest reading 4.5 against a five-year average of 4.2.
- Latest
- 4.5
- 12 months ago
- 4.15
- 5-year average
- 4.19
- 5-year range
- 3.8 – 4.6
Indicators
Latest reading against one, three and five years ago
| Indicator | Latest | 1yr | 3yr | 5yr | 5yr avg | 5yr range |
|---|---|---|---|---|---|---|
| Median house priceMiddle sale price for houses over the trailing twelve months. | $760,671 | +4.5% | +15.1% | +25.8% | $680,525 | $604,690 – $760,671 |
| 12-month price growthTwelve-month change in median house price. | 4.5% | -4.9% | -6.8% | — | 4.8% | 4.2% – 5.5% |
| Median unit priceMiddle sale price for units and apartments over the trailing twelve months. | $422,938 | +2.7% | +10.0% | +17.7% | $391,359 | $359,440 – $424,126 |
| Median weekly rentMiddle advertised weekly rent across all dwelling types. | 658 | +5.9% | +19.4% | +32.6% | 573 | 496 – 658 |
| Rental growthTwelve-month change in median advertised weekly rent. | 5.9% | -4.2% | +7.7% | — | 6.0% | 5.3% – 6.7% |
| Gross rental yieldAnnual gross rent as a share of median dwelling value. | 4.5% | +8.4% | +1.4% | +14.5% | 4.2% | 3.8% – 4.6% |
| Price-to-rent multipleMedian house price divided by annual median rent. | 22 | -1.3% | -3.6% | -5.2% | 23 | 22 – 24 |
| Vacancy rateShare of rental stock advertised and unlet. | 1.9% | +45.0% | +4.4% | +77.6% | 1.5% | 1.0% – 1.9% |
| Sales volumeNumber of dwelling transactions settled in the month. | 110 | +5.2% | +14.2% | +26.6% | 99 | 70 – 118 |
| Total listingsDwellings advertised for sale at month end. | 242 | +13.8% | +9.7% | +49.1% | 206 | 150 – 251 |
| Days on marketMedian time from listing to sale. | 38 days | -13.7% | +18.1% | -0.6% | 39 days | 29 days – 45 days |
| Vendor discountMedian gap between first asking price and sale price. | -4.1% | -1.0% | -7.3% | -12.3% | -3.9% | -4.3% – -3.4% |
| Auction clearanceShare of scheduled auctions reported sold. | 64.1% | +10.8% | -0.2% | +15.6% | 59.7% | 53.9% – 65.2% |
| Population growthAnnual resident population change. | 1.8% | +11.4% | +1.1% | +18.9% | 1.6% | 1.4% – 1.8% |
| Building approvalsDwellings approved for construction in the month. | 61 | -17.6% | +16.1% | -7.2% | 64 | 45 – 76 |
Source: Australia Property Data derived series (anchored to current market metrics). Percentage columns show the change from that point to the latest observation.
History
Monthly observations, last five years
Source: Australia Property Data derived series (anchored to current market metrics)
Source: Australia Property Data derived series (anchored to current market metrics)
Source: Australia Property Data derived series (anchored to current market metrics)
Source: Australia Property Data derived series (anchored to current market metrics)
What could change this market?
- Transport
Suburban Rail Loop East
Under construction · 2035
Reshapes access between middle-ring employment centres and lifts development capacity around six new stations.
Tunnelling underway between Cheltenham and Box Hill; precinct structure planning continues alongside.
- Industrial
Dandenong South industrial expansion
In progress · 2027 · 3.1 km
Employment growth supports rental demand at the affordable end of the market.
Watch approvals for warehousing and logistics floorspace.
- Transport
Metro Tunnel precinct uplift
Operating · Now
New CBD-fringe stations are already redirecting rental demand and apartment supply.
Station catchments at Parkville, Anzac and Arden are the focus of rezoning activity.
- Planning reform
Activity centre rezoning program
Announced · 2026-2028
Higher permitted densities across dozens of centres change the medium-term apartment pipeline.
Watch approval volumes in nominated centres for early supply signals.
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