What comes to mind when you think Dandenong? Media reports may paint a not-so-pretty picture- particularly in the way of misconduct and misdemeanours, but perhaps it’s time to rethink your perceptions because according to locals, “Dandenong is just fine and dandy”. Of all the questionable names bestowed upon this Victorian suburb over the years, we are now seeing a change from “downtrodden” to “developing”.
Think what you may, but residents tell us it is a rapidly evolving hub- one which is transforming before their eyes. Whether you are an investor with a keen eye for emerging real estate talent, a renter on a budget, or a property seeker who has outer city living and diversity on your check list- you’ll be dammed for discounting Dandenong.
Big money for change
Once upon a time, Dandenong was the rough working-class suburb of outer east Melbourne with a big highway running through the middle of it. A number of factors have knocked locals’ confidence and pride over the years namely the closure of major local manufacturing businesses and poor town planning decisions such as building a mall on the town’s edge. However, over the past ten years, the state government and local council have injected some $300 million under the Revitalising Central Dandenong (RCD) project and every dollar is showing.
What the locals say
Resident, Lee Meyer, moved to the area with his wife and son, James, three years ago and feels that Dandenong’s “rough around the edges” personality doesn’t outweigh the benefits of local living.
Q: What are the top 3 reasons why a home buyer should consider moving there?
A: It has great public transport- a number of buses and trains run from the city centre, which is good for commuters. For families like us who work, there are a selection of schools and daycare. We also enjoy the diversity of the area- the food is second to none, and the markets and cultural events are lots of fun.
Q: Who could new home buyers expect to have as neighbors?
A: It’s a big mix both in age and ethnicity. There are a lot of young families, lots of empty nester couples, and area development is bringing in new business so there’s a bit of a wave of suits living in the area too.
Q: Any interesting features about the suburb? Eg. Markets, festivals, good bars for concerts, interesting history?
A: Every year, the City of Dandenong has the Little Day Out as part of the Dandenong Children’s festival, which is a lot of fun for families. We also really enjoy eating at local Chinese restaurant, San Yuan.
The market
We all know the story- house prices are moving in an upwards trajectory and home buyers are left wondering when the market will slow down and catch its breath. Of the many current market trends, moving further out from the city centre for the likes of affordability and space remains a popular one- and Dandenong may well satisfy that.
According to propertyDATA.com.au, the current median Dandenong house price sits at $423, 500- almost 40% cheaper than the average house price in Melbourne.
Local agent Dee Kawsar says her recently sold 3 bedroom property is a “lovely example” of how buying in Dandenong is both a lucrative investment location. “Local development- both council and property related, has meant that housing in the area is more on demand than ever. The Dandenong property market is not just home to families on a budget- it is also provides excellent investment opportunities”.
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