All About Pakenham, Cardinia, VIC, 3810

Pakenham is a suburb on the outskirts of Melbourne, Victoria. The land where Pakenham sits was traditionally inhabited by the Kulin aboriginal people; European settlement of the area began in the 1830s. The suburb takes its name in Sir Edward Pakenham, a British Major General who was killed during the War of 1812. The first post office opened in 1859, although this was closed in 1974 with a new post office which operates to this day opening in 1874, and a railway station followed suit in 1877. Within Pakenham are excellent public facilities ranging from aquatic centres and gyms to schools and retail outlets, with Pakenham acting as a major retail centre within its area.

As a satellite suburb, Pakenham is an excellent suburb for those who want the simplicity, peace and picturesque views associated with rural life without being too distant from the convenience of the city in terms of employment and commerce. As well as connections by rail to central Melbourne, Pakenham’s status as a commercial hub for the Cardinia shire adds to the appeal and convenience of the suburb. Pakenham is widely recognised as one of the most rapidly growing and developing areas in the region, with several major construction developments in recent years further driving this point home. In conclusion, Pakenham is an idyllic, rural municipality with good connections to central Melbourne, striking a perfect balance between a relaxed lifestyle and urban convenience.

Pakenham Real Estate Market Outlook

Thinking about buying in Pakenham? Now could not be a better time, with 27127 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $853,000 with prices in this suburb ranging from $67,000 to $41,691,000. The aproximate distance to the coast is 10 Km.

Consistent high demand relative to supply is a key feature in Pakenham driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. Incomes in Pakenham are above average indicating a preference for good quality housing and lifestyle. That ensures consistent price growth. A mix of professions and above average income earners in Pakenham provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. High density population in Pakenham requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.

Instant Property Valuation

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Public Transport

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General Points of Interest

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