property
Frankston Renters Face Tough Choices as July Leases End Amid Shortage
With vacancies scarce, tenants whose agreements end in July must decide between staying put, sharing or shifting toward purchases.
How we reported this
More than 140 residential leases across Frankston are scheduled to conclude by 31 July 2026, leaving tenants with fewer than 180 active rental listings in the suburb.
The squeeze stems from slower construction completions along the Nepean Highway corridor and an influx of new households drawn by the Frankston Station precinct upgrades completed in late 2025. Local agents report that properties in the $450 to $520 weekly range now attract multiple applications within 48 hours of listing.
Local pressure points
Frankston City Council’s affordable housing register shows 92 households currently seeking transfers after receiving end-of-lease notices. At the same time, the Kananook Creek trail redevelopment has converted several older rental blocks into owner-occupier townhouses, further reducing stock. Tenants near Frankston Pier report landlords seeking 6 to 9 percent increases on renewals, citing higher insurance costs after the March storms.
Median weekly rents for two-bedroom units reached $485 in the June quarter, according to data compiled by the Frankston Real Estate Association. That figure sits 12 percent above the same period last year, while the number of properties leased below $400 has fallen to just 19 listings this month.
Practical steps for tenants
Renters facing expiry dates are first contacting current landlords to request fixed-term extensions of three or six months, often at the existing rate. Others are registering with the council’s shared-housing matching service, which has placed 27 households since April. A smaller group is attending open inspections for entry-level purchases priced between $520,000 and $580,000 in the Frankston South pocket, where some properties now sell within 10 days.
Those who delay decisions risk moving into short-term accommodation at the Frankston Visitor Centre motel blocks, currently charging $210 a night for studio units. Agents advise compiling income statements and references early and checking listings on weekday mornings before weekend competition builds.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.