Dandenong suburb provides its residents with a comfortable suburban lifestyle, offering the conveniences of the city with the comforts of a relaxed, close-knit community. While it has an industrial heart, its leafy streets and large parks make it a popular destination for families and young professionals.
If you’re looking for affordable housing in a vibrant location, then consider Dandenong. This suburb profile will provide all you need before you invest.
Dandenong Suburb Review
The suburb of Dandenong is located 30km southeast of Melbourne, and nearby other suburbs like Keysborough and Noble Park. It is a large regional centre in Melbourne’s booming south-eastern suburbs and is the primary administrative centre of Greater Dandenong.
In a 2016 census, the Dandenong population was listed at 29,906, increasing from 24,919 from 2011. Dandenong demographics shows a large multicultural population, with immigrants coming from China, Albania, Sri Lanka and Bosnia.
Is Dandenong a Good Suburb?
While Dandenong suburb is known for its high crime rates, it’s becoming a dynamic business and residential hub. Its redevelopment plan has seen millions of dollars spent on infrastructure to improve public transport, real estate and community facilities. As a result, Dandenong is fast attracting real estate investors and business owners.
Dandenong suburb offers a large range of facilities and amenities, with many markets and shops. It also has an extensive range of schools and educational institutions, including Haileybury College, and Dandenong North Primary School.
People travelling back and forth to Melbourne’s CBD predominantly rely on its Rail station, but freeways are also easily accessible. This means a very manageable commute to and from work for city workers.
Dandenong Property Market
New real estate investors looking to make a splash should take advantage of Dandenong suburb’s affordable housing prices. Due to the recent development initiative, many older homes are being replaced with higher quality residences.
As of today, there are 140 properties available for rent and 244 properties for sale. Furthermore, there is average demand in the real estate market, with each property receiving an average of 222 visitors.
Dandenong Median House Price List
Listed below is property sales data on median property prices for Dandenong:
|2 Bedroom House||$500,000||1 Bedroom Unit||$245,000|
|3 Bedroom House||$690,000||2 Bedroom Unit||$378,000|
|4 Bedroom House||$750,000||3 Bedroom Unit||$570,000|
Dandenong Rental Properties
Listed below is property sales data on rental prices for Dandenong:
|Houses||Rental PW||Units||Rent PW|
|2 Bedroom House||$320||1 Bedroom Unit||$285|
|3 Bedroom House||$370||2 Bedroom Unit||$310|
|4 Bedroom House||$450||3 Bedroom Unit||$410|
Dandenong Property – Should You Invest?
Based on the past five years, Dandenong’s property investors have enjoyed a compound growth rate of 6.4%. Annual rental prices have also increased by 2.7% over this period. Rental yield is based on the median house price of $700,000 and weekly rent of $370 PW.
Dandenong units have seen a compound growth rate of 2.8%, with an annual rental yield of 4.1%. Rental yield is based on the median unit price of $408,000 and weekly rent of $320 PW.
Based on these findings, property buyers with the intention to rent should consider purchasing units over houses. Median unit price is notably lower than the median house price, and rental yields are higher. However, houses have a higher capital growth rate, attracting investors wishing to eventually sell.
Safety – Dandenong Crime Rate
Dandenong is ranked in the “High” band, with an above-average crime rate in Melbourne. Drug-related crimes and property damage are relatively high, making it unsafe for some to travel through at night.
Things to Do in Dandenong
This vibrant, cosmopolitan suburb offers cultural activities and attractions for all ages. Discover the exotic flavours at the Dandenong markets, or go for a walk through the suburb’s numerous wetlands and parks. While not primarily known for it’s exciting nightlife, you’ll see that Dandenong is ideal for families to settle down.
Dandenong Ranges National Park
This rainforest offers low mountain ranges that rise 633 metres at Mount Dandenong. Ranges are dotted with rolling hills and waterfalls, scenic lookouts and walking tracks to explore. Trail and explore through its numerous valleys and forests, while you marvel at it’s native wildlife.
Dandenong Plaza shopping centre
This modern, air-conditioned mall holds over 150 stores, catering to all your shopping needs. Choose from an extensive range of major retailers, including Target, Lowes and Woolworths. And if you’re hungry, you can always pop into their foodcourt for a bite.
Experience the heart and soul of Dandenong at its bustling markets. For instance, market stalls are filled with fresh fruit, vegetables and tasty treats originating worldwide. Furthermore, there are arts and crafts markets and many second-hand stores to explore. Here, you’ll find anything from fish stands to cheap DVD stores.
Melbourne Cable Park
For activities that will really get your kids adrenaline pumping, head to the cable park. This freshwater sports centre offers wakeboard, high-rope climbing and more to thrillseekers. They’ll also be able to slide, bounce and splash their way through it’s Aqua Park, featuring multiple slides, bridges and a trampoline.
Redeveloping Central Dandenong
The Redevelopment Central Dandenong initiative aims to transform Central Dandenong. It’s purpose is to provide new community facilities, better road access and improve public transport options. Having received almost $700 million in funding so far, another $600 million is expected over the next 15-20 years.
Development projects that have been carried out or are currently ongoing include:
- The deliverance of the Little Indian Precinct
- Removal of infractuture recovery charge
- Construction of community facilities, retail, offices, and residential
- Create over 2600 jobs and around 5000 positions in the transportation hub
- Significantly improve public safety and lower crime rates
This plan is estimated to attract over $1 billion in private sector investment, boosting the economy. Because of this funding, central Dandenong can expect a significant transformation over the next few years.
Dandenong Suburb Profile – A Conclusion
Although the suburb of Dandenong has seen hard times over the years, it’s still home to a vibrant and robust community. Dandenong is full of life with its streets bustling with students, workers and locals alike. It has everything you could need – from local parks and rivers to festivals and entertainment.
Furthermorre, the suburb’s revitalisation plan is also expected to attract more families and young couples. And if you’re a first-time property buyer, then Dandenong is the perfect suburb to sink your teeth into.
Interested in learning more about other suburbs in the Greater City of Dandenong? Read our Springvale suburb profile here to get started.