As published by News Corp today in this article, Dandenong has been identified as a high ranked area for first home buyer activity, with it well poised to boom - https://www.news.com.au/finance/real-estate/revealed-australias-most-popular-suburbs-for-firsthome-buyers/news-story/aa3f311f5ad863c9767745da81f5ab4e
Lets look at some data and fundamentals for the Dandenong area. We have picked 4 suburbs in the Dandenong area - Dandenong, Dandenong North, Springvale, and Lyndhurst.
Looking across the suburbs below, all of them are relatively affordable (except maybe Springvale), all have fair rental yields, tight vacancies, and the vendor discount rates indicate the suburbs are hot given properties are selling at premium prices All these suburbs (except Lyndhurst) have only grown at an compound rate of around 3.5% annually over the last decade, indicating there may be some good capital growth and value to be extracted from it in the coming years.
DANDENONG
* Median Price - $742,750 (3.65% annual compound growth in last 10 years)
* Population - 30,143
* Rental Yield - 3.93%
* Vacancy Rate - 1.14%
* Vendor Discount Rate - -7.38%
* Days on Market - 259
DANDENONG NORTH
* Median Price - $760,000 (3.58% annual compound growth in last 10 years)
* Population - 22,532
* Rental Yield - 3.93%
* Vacancy Rate - 1.14%
* Vendor Discount Rate - -4.92%
* Days on Market - 253
SPRINGVALE
* Median Price - $900,000 (3.25% annual compound growth in last 10 years)
* Population - 22,161
* Rental Yield - 3.85%
* Vacancy Rate - 0.58%
* Vendor Discount Rate - -21.77%
* Days on Market - 387
LYNDHURST
* Median Price - $935,000 (5.35% annual compound growth in last 10 years)
* Population - 8,948
* Rental Yield - 3.72%
* Vacancy Rate - 1.48%
* Vendor Discount Rate - -7.48%
* Days on Market - 79
