20 Melbourne suburbs where house prices still double in 10 years

The Scuruchi family are preparing to sell their Frankston North home with the prospect of scoring almost double what they paid in 2019. SEE THE BIGGEST GROWTH AREAS

Nathan Mawby

@mrmawby

2 min read

February 14, 2025 - 6:01AM

A list of Melbourne suburbs has proven that home prices really do double every 10 years. Picture: Jake Nowakowski

The Scuruchi family are preparing to sell their Frankston North home in the coming weeks with the prospect its $685,000-$749,000 price tag could almost double what they paid in 2019.

And Hayley and Reno Scuruchi aren’t entirely surprised that the family home where they’ve recently brought home son Jayden could be on track for a big jump.

Ms Scuruchi said that with the beach and shops just minutes away from the home, and a range of freeways giving them easy access to both the Mornington Peninsula and the rest of Melbourne, the area offered a lifestyle far better than the suburb was usually given credit for.

“Frankston North has had a bad name in the past, but you don’t see that today,” she said.

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Mr Scuruchi said younger generations had steadily been moving into the suburb over the past few years and “pouring money into their houses”.

Their own home had been “pretty run down” when they bought it, and the prior owners took the unusual step of extending the home’s third bedroom into an expanded living area, cutting the floorplan to two bedrooms.

124 Tamarisk Drive, Frankston North sold for $685,000 in 2024 - after previously selling for $295,000 in 2012.

The pair have since transformed it back into a three bedder, as well as adding an ensuite to

the main, upgrading their living spaces and kitchen, and relocating the laundry from a backyard annex into the home.

The pair went “extra on everything”, upgrading windows and doors alongside the home’s floorplan, and adding smart wiring throughout.

“But Frankston North is worth going the extra mile for,” Mr Scuruchi said.

O’Brien Real Estate’s Mark Burke has been selling homes in the suburb for about 40 years and said while it historically had a reputation similar to St Kilda and Footscray, things had definitely moved on as local infrastructure improved and buyers for homes now regularly including accountants and psychologists.

13 Ewing St, Terang sold for $550,000 last year — up from $272,000 in 2017.

Noting that the Scuruchi’s was one of the best renovations he’d seen in the suburb, he added that most of the houses around Frankston North were built by AV Jennings decades ago and came with good bones including Tasmanian oak floors and cement stumps.

“I reckon Frankston North could double again within the next seven to nine years, I have seen it happen repeatedly before and it never ceases to amaze me,” Mr Burke said.

Mr Burke will have the Scuruchi’s home for sale in the coming weeks.