Frankston North, VIC - Cashflow & Holding Cost Report

Frankston North Investment Summary

Frankston North, located 43 km south-east of Melbourne’s CBD, is one of the last affordable suburbs in the south-east with median house prices below the $700,000 mark at $615,000. This suburb, just north of Frankston, offers typical rents around $495 per week, delivering a strong gross yield of ~4.42%. With a 10-year average capital growth of ~5.13% p.a., Frankston North is gaining traction due to its affordability, large block sizes (average 600 sqm), and ongoing gentrification, making it a hotspot for first-home buyers and investors.

• Pros:

  • One of the most affordable suburbs in Melbourne’s south-east, ideal for first-home buyers.
  • Strong rental demand with low vacancy rates, driven by proximity to Frankston’s amenities.
  • Large blocks and redevelopment potential enhance long-term value.
  • Close to Seaford Beach, Kananook Creek, and improving infrastructure like schools and retail.

• Cons:

  • Historical reputation as a public housing area may linger, though gentrification is shifting perceptions (Starbucks, Planet Fitness open in 2025).
  • Slightly longer commute to Melbourne CBD (via Frankston line or M3) compared to inner suburbs.
  • Limited premium amenities compared to neighboring Frankston or Frankston South.

Frankston North stands out as a prime opportunity for first-home buyers seeking an affordable entry into the south-east market, with its proximity to bayside lifestyle and ongoing urban renewal boosting its investment potential. However, rising demand may push prices closer to the $700,000 mark in the near future.