The provided data does not specify median prices for four-bedroom homes specifically. However, general regional medians in Melbourne’s south east as of January 2026 include Kingston at $1,085,527, Knox at $965,300, Frankston at $856,746, and Dandenong at $794,550 (Cotality/OpenAgent).
Current valuations in the south east are operating under new pressure following RBA rate hikes in February and March 2026. While 2025 saw strong recovery, the immediate atmosphere is one of caution as buyers recalibrate their borrowing capacity.
Regional price variations in the south east
Price points vary significantly across the south east corridor. Kingston maintains a higher baseline with a median of $1,085,527, while Dandenong sits at $794,550 (Cotality/OpenAgent, January 2026). We are seeing buyers shift toward these more affordable pockets as interest rate pressures mount.
Melbourne’s position against other capitals
Melbourne continues to offer a historically wide discount, with a median house price gap exceeding $600,000 compared to Sydney. This is an unusual period where Melbourne’s median has dipped below Perth’s and sits only marginally above Adelaide’s.
The impact of autumn seasonality
Autumn, spanning March to May, is the second-strongest selling season in Melbourne. It typically attracts a steady flow of genuine buyers and often features less competition from other vendors than the spring peak.
The rate hike uncertainty
The rate increases in February and March 2026 have introduced fresh volatility into buyer confidence. This makes the spread between an initial appraisal and the final achieved price wider than it was during the 2025 recovery.
| Region | Median Price (Jan 2026) | Annual Growth |
|---|---|---|
| Kingston | $1,085,527 | +8.8% |
| Knox | $965,300 | +7.6% |
| Frankston | $856,746 | +14.3% |
| Dandenong | $794,550 | +8.5% |
Frequently asked questions
Is it a good time to sell in Melbourne’s south east?
Autumn is the second-strongest season for sales, often providing a balance of genuine buyer interest and lower vendor competition. However, RBA rate hikes in February and March 2026 have introduced uncertainty, meaning precise pricing is more critical now than during the 11–14% growth seen in 2025.
How does Melbourne’s house price growth compare to Perth?
Melbourne has recently recovered strongly, with median house prices increasing approximately 11–14% over 2025. In contrast, Perth’s house price growth is forecast to slow to just 1.6% for 2026 (KPMG) as affordability constraints begin to impact the Western Australian market.
Which south east regions have shown the most growth?
Frankston has been the highest-growth region, maintaining the top position for six consecutive months with an annual growth rate of +14.3% and a median price of $856,746 (Cotality/OpenAgent, January 2026). Other strong performers include Kingston at +8.8% and Dandenong at +8.5%.
What is the price gap between Melbourne and Sydney?
There is currently a historically wide discount between the two cities, with the median house price gap exceeding $600,000. This makes Melbourne relatively more affordable for investors and homeowners compared to the New South Wales capital.
Questions to ask your agent
- How have the February and March RBA rate hikes specifically affected buyer enquiry levels in my street over the last 30 days?
- Based on the current 0.6% quarterly dip in Melbourne values (PropertyUpdate/Cotality), how should we adjust our price expectations for an autumn sale?
- Which specific buyer demographics are currently active in the south east, and are they primarily looking for affordability or premium features?
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.