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Frankston Market Update

Frankston – the beachside hub with high demand and plenty of potential is approximately 20 square kilometres with 51 parks covering nearly 20% of the area.

The median sales price of houses in the area is currently $480,000, incrementally increasing, up approximately 11.6% since January 2016.

Recent Median Sale Prices as of January 2017 were;

House: $480,000 (Up approximately 4.3% in the last quarter)

Unit: $330,000 (Up approximately 2.8% in the last quarter)

Land: $270,000 (Up approximately 10.5% in the last quarter)

Frankston’s Median Sales Prices for a house, unit and land have all continued to increase.

Sales per annum / sales by price in the 12 month period ending January 2017.

House: There were 686 house sales. The strongest demand in Frankston was for houses under $600,000, particularly houses $400K-$600K, with 443 sold between this price bracket.

Unit: There were 381 unit sales. Units between $200K – $400K dominated the sales in the 12 months ending January 2017, with 230 units of the 381 sold within that price bracket.

Land: There were 19 land sales from January 2016 to January 2017, 9 of which fell into the $200K – $400K price bracket.

*Data prepared on the 10th of May 2017 by Gavin Kohan, Sales Agent Harcourts Central

 

 

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