Frankston has seen significant growth, recording a median house price of $856,746 and annual growth of 14.3% as of January 2026 (Cotality/OpenAgent). The provided data does not contain specific median prices or growth percentages for Seaford and Langwarrin.
Frankston is currently the highest-growth region in Melbourne, having held the top position for six consecutive months (Cotality/OpenAgent, January 2026). This performance creates a sharp contrast with other coastal and Peninsula suburbs where house prices have undergone corrections.
Frankston price performance
The median house price in Frankston is $856,746, with annual growth of 14.3% (Cotality/OpenAgent, January 2026). This growth rate is the highest among the top 10 Melbourne regions for the period.
Peninsula market divergence
While Frankston grows, other nearby areas such as Somerville and Tyabb have recorded median house price drops of up to -3.2% (Barry Plant Dromana, early 2026). This suggests that growth is concentrated in specific hubs rather than being uniform across the region.
Melbourne’s capital city positioning
The median house price gap between Melbourne and Sydney now exceeds $600,000. Melbourne’s median has recently dipped below Perth’s and is only marginally above Adelaide’s, creating a historically wide discount for buyers (CoreLogic/Cotality/Domain).
The appraisal gap
The primary difficulty for vendors is the disparity between Frankston’s growth and the price corrections seen in surrounding coastal towns. This makes it challenging to set a precise listing price for properties that sit between these two diverging market trends.
Frequently asked questions
How does Frankston’s growth compare to other Melbourne regions?
Frankston is currently the top-performing region in Melbourne, with 14.3% annual growth and a median price of $856,746 (Cotality/OpenAgent, January 2026). It has outperformed other high-growth areas such as Kingston (+8.8%) and Whitehorse East (+8.6%) for six consecutive months.
Are units performing better than houses on the Peninsula?
In Mornington, units have shown annual growth of +8.8% and are selling faster, with a median of 30 days on market (OpenAgent). In contrast, Mornington houses have seen a price correction of -2.73% to -4.11% and take longer to sell at 38 days.
What is the current property cycle phase for the Peninsula?
Mornington, Balnarring, and Baxter are currently in the “Accelerating Growth” phase of the property cycle (HtAG Analytics, March 2026). Suburbs in this phase typically maintain upward momentum for the following 12 to 18 months, despite any flat recent growth.
Is now a discounted time to buy in Melbourne compared to other cities?
Yes, Melbourne’s median house price is significantly lower than Sydney’s, with a gap exceeding $600,000. Additionally, Melbourne’s median has fallen below Perth’s and is only slightly above Adelaide’s, representing a historically unusual discount for Australia’s second-largest city.
Questions to ask your agent
- How is the sustained growth in Frankston influencing buyer demand and price expectations in Seaford and Langwarrin?
- Given that neighbouring suburbs are in an “Accelerating Growth” phase, how does this affect the timing of my sale?
- Which specific buyer demographics are currently driving the 14.3% growth in the Frankston region?
This article contains general market information based on data current as at April 2026. It does not constitute financial, legal, or real estate advice specific to your property or circumstances. For an appraisal and tailored advice, speak with a Fletchers agent in your area.