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Dandenong suburb profile

Dandenong is a vibrant suburb located approximately 30km southeast of Melbourne's CBD, known for its cultural diversity and bustling commercial hub. As a key centre in the Greater Dandenong area, it offers a rich tapestry of multicultural influences, reflected in its diverse dining options, markets, and community events. The suburb is well-serviced by public transport, including a major train station and bus network, facilitating easy access to the city and surrounding areas. Dandenong's mix of residential, commercial, and industrial zones, along with its parks and recreational facilities, make it a dynamic and appealing place for residents and businesses alike.

Dandenong property market performance

Current median dwelling price$510,500Past 3 months

Property growth+3.7%Past 12 months

Dandenong’s property market has shown positive growth over the past 12 months, with house values increasing by 4.9% and unit values rising by 4.4%. The current median house price stands at $735,000, while the median unit price is $485,000, indicating a steady demand for both property types.

Sales activity has been robust, with 40 houses and 77 units sold in the past 12 months. Units are selling slightly faster than houses, with a median of 41 days on the market compared to 48 days for houses, suggesting a healthy interest in the unit market.

The rental market in Dandenong has experienced significant growth, with house rents increasing by 8.2% and unit rents surging by 12.5% over the last 12 months. The average rent for houses is $530, while units average $450, reflecting strong rental demand in the area.

HousesUnits
Median price
Past 3 months
$650K$371K
Change in value
Past 12 months
3.1%4.3%
Sold
Past 3 months
5287
Median days on market
Past 12 months
9892
Average rent
Past 12 months
$550$440
Change in rent
Past 12 months
10.0%10.0%

5 year median price trend for houses and units

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Dandenong demographics

Dandenong, located in Melbourne's southeastern suburbs, is a bustling and culturally diverse area known for its vibrant community and rich history. With a population of 30,127 and a median age of 33, Dandenong is a youthful suburb that attracts families, young professionals, and new immigrants. The suburb's cultural diversity is reflected in its array of international cuisines, markets, and community events, making it a lively and inclusive place to live.

The housing landscape in Dandenong is varied, with a significant portion of the population renting their homes, accounting for 55% of property ownership. This high rental rate is indicative of the suburb's appeal to those seeking flexible living arrangements, including students and young families. Meanwhile, 20.5% of properties are owned outright, and 24.5% are owned with a mortgage, showcasing a mix of long-term residents and new homeowners entering the market.

Family dynamics in Dandenong are diverse, with couple families with children making up 47.1% of the population, highlighting the suburb's family-friendly environment. Additionally, 30% of families are couples without children, and 20% are one-parent families, reflecting a broad spectrum of household types. The median total household income of $1,267 per week suggests a community that balances affordability with access to amenities and services, making Dandenong an attractive option for a wide range of residents.

Dandenong infrastructure, key developments and investment opportunities

Dandenong is undergoing significant urban renewal as part of the 'Revitalising Central Dandenong' initiative. The $290 million government investment has led to major infrastructure upgrades, including improvements to Lonsdale Street, the Station precinct, and public amenities. These developments are enhancing the suburb's appeal and could positively influence property values in the area.

The Metro 3175 project, a mixed-use development on the former Dandenong Livestock Market site, is adding 1100 new residences along with cafes and restaurants. This project, coupled with the redevelopment of the Dandenong Town Hall into the Drum Theatre, is creating new lifestyle amenities and cultural attractions. These improvements are likely to increase demand for properties in Dandenong, particularly in the central business district and surrounding areas.

Dandenong rental market trends

The rental market in Dandenong is experiencing notable growth, with house rents increasing by 8.2% over the past year to $530 per week, while unit rents have surged 12.5% to $450 per week. This upward trend reflects strong demand and investment in the area, making Dandenong an attractive option for both renters and investors seeking promising returns.

Suburbs near Dandenong

Some popular suburbs near Dandenong include:

  • Dandenong North: Known for its suburban charm and family-friendly atmosphere, Dandenong North is located directly north of Dandenong.
  • Endeavour Hills: Featuring rolling hills and spacious parks, Endeavour Hills is situated to the northeast of Dandenong.
  • Noble Park: Offering a diverse community and convenient transport options, Noble Park lies to the west of Dandenong.
  • Hampton Park: Known for its growing residential developments and community facilities, Hampton Park is located to the southeast of Dandenong.
  • Springvale: Famous for its vibrant multicultural markets and dining options, Springvale is situated to the northwest of Dandenong.

How does Dandenong compare to nearby suburbs?

  • Median house prices: Dandenong’s median house price is 4.3% higher than Doveton’s.
  • Median unit prices: Dandenong’s median unit price is 38.2% lower than Dandenong North’s.
  • House price growth: Over the past 12 months, house prices in Dandenong have grown 1.3% higher than in Keysborough.
  • Unit price growth: Over the past 12 months, unit prices in Dandenong have grown 3.0% higher than in Endeavour Hills.
  • Selling speed for houses: Properties in nearby Doveton are selling 7.1% faster than in Dandenong.
  • Selling speed for units: Properties in Dandenong are selling 15.6% faster than in Doveton.
  • Investment considerations: In Dandenong, the rental yield for house is 11.4% lower than the Melbourne average, while the rental yield for units is 21.3% lower.
  • House price growth: Over the past 12 months, house prices in Dandenong have grown 33.8% lower than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in Dandenong have grown 37.8% lower than the average rate of growth for units across Melbourne.

Common questions about Dandenong

  • Is Dandenong a nice place to live?

    Dandenong is a delightful suburb that offers a unique blend of cultural richness and urban convenience, making it a fantastic place to live. Known for its vibrant community and dynamic atmosphere, Dandenong is a suburb where diversity thrives, offering residents a chance to experience a wide array of cultural influences. The suburb's lively vibe is complemented by its proximity to a variety of amenities, including shopping centres, cafes, and parks, ensuring that residents have everything they need within easy reach.

    For families, Dandenong presents an appealing environment with its strong sense of community and access to quality schools and recreational facilities. The suburb's parks and green spaces provide ample opportunities for outdoor activities, making it a great choice for those who enjoy an active lifestyle. Safety is generally well-regarded, although, like any bustling area, it's always wise to stay aware of your surroundings.

    While Dandenong offers many advantages, there are some trade-offs to consider. The suburb's bustling nature means it can be quite busy, particularly in commercial areas, which might not appeal to those seeking a quieter lifestyle. Additionally, while the ongoing urban renewal projects are enhancing the suburb's appeal, they may also lead to increased property prices over time.

    Overall, Dandenong is a charming suburb that caters to a diverse range of residents, from families to young professionals. Its cultural vibrancy, coupled with the convenience of well-connected public transport and a variety of amenities, makes it a compelling choice for those looking to enjoy a lively and inclusive community. Whether you're drawn to its multicultural dining options or the promise of new developments, Dandenong offers a unique and enriching living experience.

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  • Is it expensive to live in Dandenong?

    Living in Dandenong can be considered moderately priced compared to other suburbs in the Melbourne area. The median house price is currently around $755,000, which is relatively affordable compared to many inner-city suburbs. For those interested in units, the median price is $450,000, making it a more budget-friendly option for those looking to enter the property market.

    Renting in Dandenong is also reasonably priced, with houses averaging $530 per week and units at $450 per week. When you compare these figures to the average annual wage in Dandenong, which is approximately $62,000, it suggests that a significant portion of one's income would go towards housing costs. However, when compared to the average wage in Melbourne, Dandenong's housing prices and rents are more attainable, making it a viable option for many.

    Overall, while Dandenong may not be the cheapest suburb in Victoria, it offers a balance of affordability and accessibility, especially for those working in or around Melbourne. If you're thinking of living in Dandenong, it's important to consider your financial situation to ensure it aligns with the cost of living in this diverse and vibrant suburb.

    Disclaimer: To assess whether a suburb is considered expensive, we’ve looked at mortgage and rental costs as a proportion of the average local salary. That said, everyone’s financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.
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  • Is Dandenong a good place to invest?

    Dandenong is shaping up to be a promising investment suburb, thanks to its impressive rental growth and steady increase in property values. Over the past year, the median house value in Dandenong has risen by 5.6%, while unit values have seen a 4.8% increase. This indicates a healthy demand for properties in the area, which is further supported by the significant rise in rental prices. House rents have jumped by 12.8%, and unit rents have surged by 15.4%, highlighting strong rental demand and the potential for solid rental returns.

    The suburb's appeal lies in its affordability and strategic location, making it attractive to both renters and buyers. Dandenong offers a diverse range of housing options, from family homes to modern units, catering to a wide demographic. Its well-established infrastructure, including public transport links and proximity to major employment hubs, adds to its desirability. While Dandenong may not experience the rapid capital growth seen in some inner-city areas, its consistent property value increases and robust rental market make it a reliable choice for investors seeking steady returns.

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Choose the right real estate agents in Dandenong

There are 210 real estate agents working in Dandenong, but they don’t all deliver the same results.

Some agents have a much stronger presence in the suburb, with just 5 agents handling around 24.0% of all sales in the past year.

Commission rates in Dandenong typically range from 1.55% to 2.61%. Comparing agents—including what they charge, what’s included, and how they structure their fees—is not only important when choosing an agent, the right structure can help ensure your chosen agent is motivated to achieve the best possible result.

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