Cranbourne is a multicultural hub in Melbourne’s southeast and offers a range of quality schools for a fast-growing population.
The suburb’s population is expected to grow 26 per cent from 22,000 in 2022 to 27,909 in 2041. In the 2016 census, its population was more than 20,000.
Cranbourne lies in the City of Casey and has seen the development of many new estates attracting thousands of newcomers, especially young families, to the area.
The centre point of the suburb is High Street, where a melting pot of restaurants with cuisines from Chinese to Indian and Italian can be found.
The Cranbourne Park Shopping Centre features major retailers including Harris Scarfe, KMART and Target, as well as a Coles supermarket.
One of Cranbourne’s major attractions is the Royal Botanical Gardens which features walking tracks and wetlands and attracts many locals and tourists The award-winning Australian Garden is also located here with native plants from across the country on display.
The suburb has a long history of horse racing, with the first race meet held in 1876. The Cranbourne Cup remains a popular event today.
Cranbourne is connected on the metropolitan train line, with regular services into Melbourne’s CBD and to other major suburbs including Clayton and Dandenong.
Its reasonable property prices make Cranbourne an ideal location for first-home buyers looking to access government grants, as well as investors wanting a good return.
According to data from the Real Estate Institute of Victoria (REIV), a typical house was priced at about $640,000 in the 12 months to March 2022. Additional data showed a unit was about $443,000 in the year to December 2021.
Properties range from established homes on large blocks to smaller dwellings in new developments.
“You’ve got all sorts of shops and cafes, multiple medical centres and public transport - it’s all here,” Mr Egder-Moradi said.
He added the suburb’s proximity to the Mornington Peninsula also enticed people to move to the area.
“A lot of people want to be close to the water and the beach,” he said.
“People buy into Cranbourne because it allows them to upsize in three or four years to areas like Langwarrin, which is the gateway to the peninsula.”