The South East had some of the State’s best performing suburbs in house prices, with Pakenham and Cranbourne in the top five for 2024’s annual growth.
As reported by realestate.com, Cranbourne South and Pakenham Upper were the third and fourth best performing in Victoria’s price growth for 2024, respectively.
Cranbourne South recorded a growth of 4.2 percent in 2024 with the median price upping to over $780,000.
The Green Wedge land of Pakenham Upper saw increasing demand with the median price jumping to over $1.3 million from a 4 percent growth in price.
Narre Warren North also made the top 10, recording the sixth best price growth in 2024.
With a 3.8 percent increase, the median price growth stands at over $1.6 million.
Demand for units in the South East has also grown with Springvale and Cylde North making the top 10 for annual price growth in Victoria.
Springvale was third on the list with a 9.1 percent price growth, with the median price for units standing at over $630,000.
Clyde North was eighth with the median unit price standing at almost $590,000 representing an annual growth of 4.5 percent.
