Once known as a “battler” suburb, Frankston has undergone a metamorphosis over the past decades, finally capitalising on its spectacular waterfront and waterways. Significant investment in infrastructure has seen the area well serviced by public transport and transport links, high performing schools, universities, hospitals, golf courses, mega shopping complexes and, of course, there’s the amazing coastline with breathtaking views. The desire for a sea-change, that was felt by many post Covid, has also helped to drive demand for the area’s real estate to new heights.

Recent planning schemes adopted by the Frankston City Council focus on optimising the unique beauty of the area and building an international standard city including providing for a range of housing types, creating lively streets and a strong night time economy with residents dining and shopping close to home.

While the suburb of Frankston was singled out by Canstar as a rising star, other suburbs in the City of Frankston are also showing all the signs of being poised for significant growth.

A recently published investor report by the Barry Plant Group, based on data from propertyvalue.com.au, showed that when looking at the south bayside suburbs, Frankston North was the top suburb for return on investment (ROI) on houses, with a rental yield of 3.7% and fifth best suburb for ROI on units with a rental yield of 4.2%. Frankston was the fourth best suburb in the area for ROI with a rental yield of 3.5% while nearby Baxter was the fifth best suburb in metropolitan Melbourne when it came to ROI – delivering 3.9%.

Seaford is undergoing a gentrification and Frankston South, with its large homes on huge blocks, the beautiful Sweetwater Creek precinct and closeness to Mount Eliza is also attracting lots of interest with people looking to move to the Mornington Peninsula.