Growth is uneven across Melbourne’s South East in 2026. While established suburbs with limited land supply are proving resilient, outer growth corridors like Officer, Pakenham, and Clyde North continue to absorb the bulk of population increase.
What’s happening with growth corridors?
Officer is currently outperforming Pakenham, attracting upsizers with its maturing streetscapes and school catchments. Clyde North is maintaining population inflow despite some price softening, and Pakenham remains the most active market by transaction volume in the corridor.
What about established suburbs?
Wantirna and Wantirna South are showing the strongest price resilience due to their land-locked nature and lack of new supply. Ferntree Gully and Boronia are attracting buyers priced out of Wantirna, and in rising rate cycles, established suburbs consistently outperform new estates.
How much growth are we talking about?
Cardinia Shire, encompassing Officer and Pakenham, is adding approximately 5,000 to 7,000 residents each year – the equivalent of a new primary school’s worth of families every few months. This growth has been consistent even across changing interest rate cycles.
The honest reality
Two recent RBA rate rises have tightened borrowing capacity, meaning growth corridors are not performing at the same pace as in recent years. Sellers who price to current borrowing capacity are transacting, while those holding to 2021 optimism are finding it difficult to secure a sale.
Questions to consider
- If you’re considering selling, how does your property stack up against current buyer budgets?
- Are you prepared to adjust your expectations to reflect the current market conditions?
- What is the long-term growth potential of your specific precinct within Officer, Pakenham, or Wantirna?
Talk to KR Peters for a straight-talking appraisal with no obligation.
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Market information is general in nature and reflects conditions
at the time of publication. For advice specific to your property,
contact KR Peters.