Melbourne - South East Property Market: Prices, Vacancy & Trends
As of May 2026, median house prices across the Melbourne - South East SA4 range from $750,000 (Cardinia) to $1,501,000 (Monash). The stock-weighted rental vacancy rate is 1.5%, ranging from 0.9% in Cardinia to 2.0% in Casey - South. Top median house rent is $830/week in Keysborough - South.
Source: Suburbtrends, 12-month rolling medians · Updated monthlyWhat is the median house price in the Melbourne - South East?
Median house prices across the Melbourne - South East's SA3 markets span $750,000 to $1,501,000, with Monash the most expensive market and Cardinia the most affordable.
| SA3 market | Median house | 12-mth change | Median unit | Days on market |
|---|---|---|---|---|
| Monash | $1,501,000 | +1.4% | $920,000 | 28 |
| Dandenong | $940,000 | +8.0% | $595,000 | 25 |
| Casey - North | $868,000 | +4.8% | $622,000 | 28 |
| Casey - South | $780,500 | +5.5% | $586,000 | 37 |
| Cardinia | $750,000 | +6.1% | $550,000 | 34 |
| SA3 market | Houses for sale | Houses for rent | Units for sale | Units for rent |
|---|---|---|---|---|
| Casey - South | 1,956 | 421 | 124 | 66 |
| Cardinia | 1,158 | 160 | 75 | 36 |
| Casey - North | 533 | 135 | 90 | 41 |
| Monash | 437 | 185 | 406 | 268 |
| Dandenong | 319 | 122 | 317 | 239 |
Listings counts are the current-month average of properties advertised for sale or rent. Unit stock can be thin in regional markets — some SA2 unit markets carry only a handful of active listings at any time.
| SA2 area | SA3 | House median | House 12-mth | Unit median |
|---|---|---|---|---|
| Glen Waverley - West | Monash | $1,800,000 | +5.8% | $995,000 |
| Glen Waverley - East | Monash | $1,750,000 | +3.4% | $1,220,500 |
| Mount Waverley - North | Monash | $1,695,000 | +0.3% | $1,100,000 |
| Narre Warren North | Casey - North | $1,650,000 | −5.7% | — |
| Mount Waverley - South | Monash | $1,650,000 | +4.8% | $1,104,000 |
| Wheelers Hill | Monash | $1,505,000 | +3.8% | — |
| Ashwood - Chadstone | Monash | $1,464,000 | +2.4% | $970,000 |
| Keysborough - South | Dandenong | $1,330,000 | +3.1% | — |
| Oakleigh - Huntingdale | Monash | $1,315,000 | +6.9% | $870,000 |
| Clayton (North) - Notting Hill † | Monash | $1,310,000 | — | $495,000 |
| Clayton - Central | Monash | $1,290,000 | +7.5% | $800,000 |
| Dingley Village | Dandenong | $1,230,000 | +7.0% | — |
| Emerald - Cockatoo | Cardinia | $1,190,000 | +31.9% | — |
| Clarinda - Oakleigh South | Dandenong | $1,180,000 | +7.8% | $722,000 |
| Mulgrave | Monash | $1,165,000 | +5.9% | $842,500 |
| Clayton South | Dandenong | $1,000,000 | +2.6% | $710,000 |
| Cranbourne South | Casey - South | $980,000 | +7.6% | — |
| Springvale | Dandenong | $973,000 | +11.8% | $625,000 |
| Berwick - South East | Casey - North | $952,000 | +3.5% | — |
| Berwick - North | Casey - North | $950,000 | −1.0% | $745,000 |
| Narre Warren South - East | Casey - South | $950,000 | +2.2% | — |
| Keysborough - North | Dandenong | $946,500 | +9.4% | — |
| Springvale South | Dandenong | $935,000 | +7.5% | $645,000 |
| Lynbrook - Lyndhurst | Casey - South | $907,000 | +3.1% | — |
| Endeavour Hills - North | Casey - North | $885,000 | +8.5% | — |
| Endeavour Hills - South | Casey - North | $880,000 | +4.8% | — |
| Clyde North - North | Casey - South | $875,000 | +8.0% | — |
| Noble Park - West | Dandenong | $873,000 | +7.6% | $620,000 |
| Narre Warren - North East | Casey - North | $868,000 | +8.5% | — |
| Bunyip - Garfield | Cardinia | $865,000 | +3.0% | — |
| Berwick - South West | Casey - North | $865,000 | +3.0% | — |
| Narre Warren South - West | Casey - South | $841,000 | +9.1% | — |
| Cranbourne North - East | Casey - South | $835,000 | +8.4% | — |
| Noble Park North | Dandenong | $835,000 | +6.4% | — |
| Dandenong North | Dandenong | $820,000 | +7.0% | $620,000 |
| Noble Park - East | Dandenong | $820,000 | +3.8% | $580,000 |
| Hallam | Casey - North | $808,000 | +5.6% | $615,000 |
| Narre Warren - South West | Casey - North | $800,000 | +9.2% | $600,000 |
| Dandenong - North | Dandenong | $800,000 | +5.3% | $455,000 |
| Beaconsfield - Officer | Cardinia | $795,000 | +2.6% | — |
| Clyde North - South | Casey - South | $795,000 | +6.9% | — |
| Pearcedale - Tooradin | Casey - South | $780,000 | +2.0% | — |
| Koo Wee Rup | Cardinia | $770,000 | +13.2% | — |
| Cranbourne North - West | Casey - South | $765,000 | +9.3% | — |
| Cranbourne East - North | Casey - South | $760,000 | +5.6% | — |
| Pakenham - North West | Cardinia | $759,000 | +17.0% | — |
| Cranbourne East - South | Casey - South | $755,000 | +5.6% | — |
| Dandenong - South | Dandenong | $755,000 | +4.0% | $415,000 |
| Cranbourne West | Casey - South | $752,000 | +5.2% | — |
| Pakenham - South West | Cardinia | $740,000 | +7.6% | $595,000 |
| Hampton Park - West | Casey - South | $735,888 | +7.4% | $571,500 |
| Hampton Park - East | Casey - South | $735,000 | +9.4% | — |
| Cranbourne | Casey - South | $730,000 | +9.8% | $520,000 |
| Pakenham - North East | Cardinia | $710,000 | +8.4% | $515,000 |
| Pakenham - South East | Cardinia | $700,000 | +12.0% | $525,000 |
| Doveton | Casey - North | $667,000 | +8.5% | $554,000 |
† Thin market: fewer than 40 sales in 12 months, or a distorted price mix — medians are volatile and 12-month changes are not reported. A dash indicates too few unit sales to report a reliable median.
Which Melbourne - South East areas are growing fastest?
Among SA2 areas with robust sales volumes, the strongest 12-month house price growth to May 2026 was Emerald - Cockatoo +31.9%, Pakenham - North West +17.0%, Koo Wee Rup +13.2%, Pakenham - South East +12.0%, Springvale +11.8%. The softest market was Narre Warren North (-5.7%).
What is the rental vacancy rate in the Melbourne - South East?
The stock-weighted rental vacancy rate across the Melbourne - South East SA4 is 1.5% as at May 2026. Conditions range from 0.9% in Cardinia to 2.0% in Casey - South — a critically tight market.
| SA3 market | Dec 25 | Jan 26 | Feb 26 | Mar 26 | Apr 26 | May 26 | Rental stock |
|---|---|---|---|---|---|---|---|
| Cardinia | 0.6% | 0.6% | 0.5% | 0.5% | 0.5% | 0.9% | 667 |
| Casey - North | 1.4% | 1.4% | 1.2% | 0.9% | 1.4% | 1.4% | 592 |
| Dandenong | 2.5% | 2.8% | 2.4% | 2.0% | 1.2% | 1.4% | 1,016 |
| Monash | 2.2% | 2.0% | 2.4% | 2.0% | 1.8% | 1.5% | 1,201 |
| Casey - South | 2.0% | 1.9% | 2.2% | 2.0% | 2.4% | 2.0% | 1,395 |
Suburbtrends Vacancy Index methodology: vacant rental listings as a share of total rental stock, rolling 3-month basis. SA4 weighted rate uses current rental stock weights.
What are the rents in the Melbourne - South East?
Median house rents across the Melbourne - South East run to $830/week in Keysborough - South at the top of the region. Unit rents typically sit below houses; bedroom splits below show where stock supports a reading.
| SA2 area | Median | 2-bed | 3-bed | 4-bed |
|---|---|---|---|---|
| Keysborough - South | $830 | $650 | $750 | $830 |
| Glen Waverley - East | $800 | $590 | $700 | $850 |
| Narre Warren North | $790 | $500 | $600 | $890 |
| Glen Waverley - West | $775 | $580 | $700 | $880 |
| Mount Waverley - South | $760 | $560 | $690 | $870 |
| Wheelers Hill | $760 | $580 | $650 | $830 |
| Mount Waverley - North | $750 | $550 | $695 | $860 |
| Dingley Village | $735 | $650 | $675 | $765 |
| Ashwood - Chadstone | $700 | $550 | $650 | $900 |
| Clarinda - Oakleigh South | $695 | $480 | $650 | $790 |
| Narre Warren South - East | $680 | — | $615 | $680 |
| Mulgrave | $680 | $620 | $650 | $800 |
| Oakleigh - Huntingdale | $680 | $590 | $670 | $800 |
| Emerald - Cockatoo | $665 | $530 | $600 | $800 |
| Bunyip - Garfield | $650 | $400 | $520 | $660 |
| Koo Wee Rup | $650 | $370 | $560 | $650 |
| Lynbrook - Lyndhurst | $650 | $510 | $610 | $690 |
| Clayton South | $650 | $600 | $635 | $775 |
| Clayton (North) - Notting Hill | $650 | $580 | $650 | $750 |
| Clayton - Central | $650 | $550 | $650 | $800 |
| Keysborough - North | $645 | $520 | $620 | $695 |
| Berwick - South East | $640 | $520 | $595 | $650 |
| Clyde North - North | $630 | — | $570 | $640 |
| Springvale South | $630 | $475 | $620 | $700 |
| Cranbourne North - East | $625 | $500 | $570 | $650 |
| Berwick - South West | $620 | $510 | $580 | $650 |
| Pearcedale - Tooradin | $620 | $500 | $590 | $690 |
| Narre Warren South - West | $620 | $460 | $580 | $650 |
| Clyde North - South | $620 | $500 | $570 | $625 |
| Springvale | $620 | $530 | $600 | $750 |
| Endeavour Hills - South | $615 | $530 | $580 | $690 |
| Cranbourne South | $610 | $530 | $560 | $620 |
| Beaconsfield - Officer | $600 | $510 | $560 | $620 |
| Pakenham - North West | $600 | $480 | $550 | $620 |
| Berwick - North | $600 | $490 | $580 | $680 |
| Endeavour Hills - North | $600 | $470 | $580 | $660 |
| Narre Warren - North East | $600 | $485 | $580 | $650 |
| Cranbourne West | $600 | $520 | $570 | $650 |
| Cranbourne East - North | $600 | $520 | $570 | $630 |
| Cranbourne East - South | $600 | $480 | $560 | $620 |
| Pakenham - South West | $580 | $480 | $550 | $600 |
| Hallam | $580 | $460 | $570 | $650 |
| Cranbourne North - West | $580 | $480 | $550 | $630 |
| Noble Park North | $580 | $550 | $580 | $650 |
| Noble Park - West | $580 | $510 | $598 | $700 |
| Dandenong - South | $580 | $450 | $580 | $700 |
| Pakenham - North East | $570 | $495 | $550 | $600 |
| Narre Warren - South West | $570 | $500 | $560 | $645 |
| Hampton Park - East | $570 | $500 | $550 | $620 |
| Dandenong North | $560 | $500 | $560 | $680 |
| Pakenham - South East | $550 | $490 | $540 | $620 |
| Cranbourne | $550 | $480 | $540 | $620 |
| Hampton Park - West | $550 | $520 | $550 | $630 |
| Noble Park - East | $550 | $490 | $580 | $720 |
| Dandenong - North | $550 | $485 | $560 | $650 |
| Doveton | $540 | $500 | $540 | $670 |
| SA2 area | Median | 2-bed | 3-bed |
|---|---|---|---|
| Glen Waverley - East | $750 | $620 | $750 |
| Glen Waverley - West | $750 | $700 | $750 |
| Mount Waverley - North | $750 | $560 | $750 |
| Mount Waverley - South | $750 | $580 | $740 |
| Keysborough - South | $700 | $600 | $700 |
| Wheelers Hill | $700 | $580 | $680 |
| Ashwood - Chadstone | $680 | $600 | $750 |
| Mulgrave | $680 | $590 | $670 |
| Clayton - Central | $650 | $580 | $680 |
| Oakleigh - Huntingdale | $625 | $590 | $720 |
| Endeavour Hills - North | $620 | $500 | $629 |
| Clarinda - Oakleigh South | $620 | $550 | $675 |
| Clayton South | $610 | $575 | $720 |
| Pearcedale - Tooradin | $600 | $375 | $600 |
| Clyde North - North | $600 | — | $590 |
| Springvale South | $580 | $500 | $649 |
| Lynbrook - Lyndhurst | $575 | $480 | $590 |
| Narre Warren - South West | $570 | $500 | $600 |
| Berwick - South East | $570 | $510 | $570 |
| Berwick - South West | $570 | $520 | $570 |
| Cranbourne West | $570 | $500 | $560 |
| Clyde North - South | $570 | $520 | $550 |
| Springvale | $565 | $550 | $690 |
| Berwick - North | $560 | $520 | $560 |
| Keysborough - North | $560 | $530 | $620 |
| Clayton (North) - Notting Hill | $560 | $595 | $690 |
| Beaconsfield - Officer | $550 | $500 | $560 |
| Doveton | $550 | $500 | $600 |
| Endeavour Hills - South | $550 | $500 | $580 |
| Cranbourne South | $550 | $510 | $545 |
| Narre Warren South - East | $550 | — | $550 |
| Cranbourne East - South | $550 | — | $550 |
| Hampton Park - West | $550 | $510 | $550 |
| Dingley Village | $550 | $550 | $660 |
| Hallam | $530 | $480 | $580 |
| Hampton Park - East | $530 | $485 | $530 |
| Cranbourne East - North | $525 | $510 | $540 |
| Emerald - Cockatoo | $520 | $470 | $550 |
| Cranbourne North - East | $520 | $500 | $520 |
| Cranbourne North - West | $520 | $440 | $570 |
| Noble Park - West | $520 | $520 | $600 |
| Pakenham - South West | $515 | $480 | $540 |
| Noble Park - East | $510 | $500 | $600 |
| Pakenham - North East | $500 | $460 | $510 |
| Pakenham - South East | $500 | $475 | $515 |
| Dandenong - South | $495 | $495 | $580 |
| Pakenham - North West | $490 | $470 | $520 |
| Narre Warren - North East | $490 | $490 | $540 |
| Dandenong North | $490 | $480 | $570 |
| Cranbourne | $480 | $475 | $545 |
| Noble Park North | $480 | $480 | $550 |
| Dandenong - North | $480 | $465 | $600 |
| Koo Wee Rup | $470 | $440 | $500 |
| Bunyip - Garfield | $450 | $450 | $460 |
| Narre Warren South - West | $450 | — | $530 |
| Narre Warren North | $440 | $480 | — |
Rents are median advertised asking rents over 12 months. Bedroom splits are reported where enough listings support a reading; a dash indicates too few. Unit rents are shown only for SA2s with sufficient rental stock.
How have Melbourne - South East prices and rents moved?
Over the 16 months to May 2026, median house prices across the Melbourne - South East SA4 moved from $750,000 (Cardinia) to $1,501,000 (Monash) at the extremes. The chart tracks each SA3 market for house prices, unit prices and house rents.
| SA3 | Feb 25 | Mar 25 | Apr 25 | May 25 | Jun 25 | Jul 25 | Aug 25 | Sep 25 | Oct 25 | Nov 25 | Dec 25 | Jan 26 | Feb 26 | Mar 26 | Apr 26 | May 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cardinia | $705,000 | $705,000 | $705,000 | $707,000 | $710,000 | $710,000 | $715,000 | $720,000 | $725,000 | $730,000 | $732,500 | $737,500 | $740,000 | $747,500 | $747,500 | $750,000 |
| Casey - North | $825,000 | $825,000 | $825,000 | $828,000 | $828,000 | $828,000 | $830,000 | $835,000 | $847,000 | $850,000 | $850,000 | $855,000 | $857,000 | $860,000 | $862,000 | $868,000 |
| Casey - South | $736,000 | $735,000 | $740,000 | $740,000 | $742,000 | $743,000 | $745,000 | $750,000 | $755,000 | $760,000 | $760,000 | $762,000 | $770,000 | $775,000 | $779,500 | $780,500 |
| Dandenong | $865,000 | $865,000 | $868,000 | $870,000 | $880,000 | $880,000 | $885,000 | $890,500 | $895,000 | $900,000 | $905,000 | $911,000 | $920,000 | $925,000 | $935,000 | $940,000 |
| Monash | $1,471,000 | $1,475,800 | $1,472,000 | $1,480,888 | $1,486,000 | $1,485,000 | $1,500,000 | $1,504,000 | $1,506,000 | $1,520,000 | $1,525,000 | $1,525,000 | $1,528,000 | $1,516,000 | $1,516,000 | $1,501,000 |
How this data is compiled
Suburbtrends compiles transaction, listings and rental records monthly across every SA2, SA3 and SA4 in Australia. Medians and percentiles are calculated on a 12-month rolling basis; vacancy follows the Suburbtrends Vacancy Index methodology (vacant rental listings as a share of total rental stock, rolling 3 months). Development Rates covers completed strata projects of 4–40 dwellings, with each project's site purchase traced through the title record to derive the land component. Thin markets are flagged and 12-month changes suppressed where sample sizes do not support them. Boundaries follow the ABS ASGS Edition 3. This page was last updated with data to May 2026, and is refreshed in the first week of every month.
Kent's research is regularly cited in the Australian Financial Review, news.com.au and industry media. He previously led data science teams at major property data firms and founded Suburbtrends to publish independent, suburb-level market research. Full profile and press citations →