As of January 2026, the median house price in Frankston was $856,746 (Cotality/OpenAgent). The provided data does not include specific median price figures for Seaford or Carrum Downs.
Frankston has maintained the position of Melbourne’s highest-growth region for six consecutive months (Cotality, January 2026). This growth occurs while other parts of the Peninsula have seen price corrections.
Frankston price growth
The region recorded an annual growth rate of 14.3% as of January 2026 (Cotality/OpenAgent). This sustained price growth positions Frankston at the top of Melbourne’s high-growth list, with a median of $856,746 (Cotality/OpenAgent).
Melbourne’s position against other capitals
The median house price gap between Melbourne and Sydney currently exceeds $600,000. Melbourne’s median has dipped below Perth’s and sits only marginally above Adelaide’s, a historically unusual discount for the city.
Peninsula supply and demand drivers
Supply is strictly limited by Peninsula geography and Green Wedge zoning, which prevents significant urban expansion. This constraint, paired with a dual buyer pool of permanent residents and holiday homeowners, contributes to tight vacancy rates, such as the 0.6% recorded in Mornington.
The suburb-level data gap
While regional growth for Frankston is documented, specific medians for Seaford and Carrum Downs are missing from current high-level reports. This means appraisals for these suburbs must rely on individual comparable sales rather than broad regional medians.
| Melbourne High-Growth Region (Jan 2026) | Median Price | Annual Growth |
|---|---|---|
| Frankston | $856,746 | +14.3% |
| Kingston | $1,085,527 | +8.8% |
| Whitehorse East | $1,239,067 | +8.6% |
| Dandenong | $794,550 | +8.5% |
| Brimbank | $730,805 | +10.0% |
| Sunbury | $730,922 | +8.5% |
| Tullamarine–Broadmeadows | $740,035 | +8.4% |
| Whittlesea–Wallan | $781,708 | +7.7% |
| Knox | $965,300 | +7.6% |
Frequently asked questions
What is the current growth rate in Frankston?
As of January 2026, Frankston recorded an annual growth rate of 14.3% (Cotality/OpenAgent). It has held the position of the highest-growth region in Melbourne for six consecutive months, with a median house price of $856,746 (Cotality/OpenAgent).
How does Melbourne’s pricing compare to Sydney?
There is a historically wide discount currently available in the Melbourne market. The median house price gap between Melbourne and Sydney exceeds $600,000, while Melbourne’s median is now marginally above Adelaide’s and has fallen below Perth’s.
What is causing low vacancy rates on the Peninsula?
Extremely tight vacancy rates, such as 0.6% in Mornington, are driven by a combination of geographic constraints and Green Wedge zoning that prevents urban expansion. Demand remains consistent from both permanent retirees and Melbourne-based holiday home buyers.
Are house prices falling on the Mornington Peninsula?
Some coastal suburbs including Mornington, Dromana, and Sorrento recorded median house price drops of up to -3.2% in early 2026 (Barry Plant Dromana). This reflects a price correction from the COVID-19 peak, though units in Mornington grew by 8.8% (OpenAgent).
Questions to ask your agent
- How do the 14.3% growth figures in Frankston translate to current buyer demand for my specific property type?
- Given the 0.6% vacancy rate in the region, what is the current yield difference between a long-term lease and short-term holiday letting?
- With Melbourne’s median sitting marginally above Adelaide’s, are you seeing an increase in interstate buyer interest for Peninsula properties?
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.