Aspendale Gardens thoughts

[Zos]

What are people's opinion on Aspendale Gardens the area inbetween Wells rd and governor road. Is this area considered worse than the other side of Wells rd?

There are a few new developments in this area and directly above this suburb lies Waterways. I am not sure what the selling point of Waterways is but the prices are pretty expensive.

I am looking at a few properties and was wondering what would be the better buy as in future capital growth.

1. Frankston South (not fhsz) block 1500sqm nice hous with pool. 600k

2. Aspendale Gardens new home on 1500sqm block for 670k. This is in the area between Wells and governor roads.

I think the better part of aspendale gardens is on the other side of Wells road or not?

 

[alicudi]

Hi

I know the area very well with a couple relatives and friends that live on both sides of Wells Road.

Whilst the homes are better and much nicer on the inland side of Wells Road I do know some people living on the inland side of Wells Road that would actually prefer to live on the other side, one could even call it the "BEACHSIDE" of Wells Road....Did I say that?

The beach side of Wells Road in Aspendale Gardens is much more convenient to live in due to the much easier access to the Aspendale Gardens shopping centre and also this side of the estate also has an entry/exit point to Edithvale Road.

If you live on the inland side of Wells Road and you want to get some take away or a litre of Milk you are forced to make the crossing over Wells Road and back again which is also very unsafe for families with kids due to the large amount of traffic flows.

Just get a quote on home insurance as I have posted in another thread a few minutes ago some parts of Aspendale Gardens have received expensive insurance premiums due to it been in a flood prone area or so the insurance companies say.

I also have no idea what the selling point of the waterways estate is other than it is close to Haileybury college.

Regards,

alicudi

 

[Zos]

Thanks for your post alicudi. Yes you are correct about the ease of access on the beach side of wells rd. The only positive is that there is a traffic light to go across Wells road and into beach side of it.

Interesting you say that the houses are nicer inland, I admit have not driven through there.

What do you think as far as capital growth is converned?

 

[alicudi]

Hi

I admit driving into Royal Palms Blvd in Aspendale Gardens is probably the nicest street in the whole Aspendale Gardens estate with its McMansions and Palm trees.

But due to the shopping centre on the beach side of Wells Road and the convenience of an exit onto Edithvale Road without having to get onto Wells Road by using Branagan Drive I am going to have to say that the beach side of Wells Road is going to give greater capital gains.

I see things going up for the houses around the shopping centre and the inland side of Wells Road sort of not appreciating the same growth potential as the beach side of the estate.

But I think you should get more input from others on these forums and even speak to local people and real estate agents in the area.

Regards,

alicudi

 

[S.T]

Year No. of Sales Median Growth Low High

2005 93 $375,000 3.7% $41,333 $692,200
2006 83 $385,000 2.7% $185,000 $615,000
2007 101 $435,000 13.0% $215,000 $752,500
2008 82 $475,000 9.2% $20,000 $1,100,000
2009 87 $497,500 4.7% $215,000 $800,000
2010 91 $581,000 16.8% $20,000 $1,050,000
2011 78 $550,000 -5.3% $166,666 $846,000
2012 74 $551,075 0.2% $280,000 $755,000
2013 70 $585,750 6.3% $290,000 $768,500
2014 17 $565,000 -3.5% $335,000 $686,000

For Aspendale Gardens (3195) growth report Pricefinder.

Nothing too spectacular.

Personally, I'd rather buy in Aspendale, Edithvale, Chelsea for around that price and be close to railway and beach. That's if you still want to be in the area.

 

[alicudi]

Hi

Thanks simtr for that information on Aspendale Gardens growth rates (or lack of growth really).

It seems that since 2010 the area has not grown in value at all. This tells me that if you buy today in Aspendale Gardens you are buying at 2010 prices....prices may be about to go sky high in that area.

Bit late for me though as I have nothing there.

But yes Aspendale would be a better area to invest in due to the reasons mentioned above such as beach and railway.

Regards,

alicudi

 

[Zos]

Year No. of Sales Median Growth Low High

2005 93 $375,000 3.7% $41,333 $692,200
2006 83 $385,000 2.7% $185,000 $615,000
2007 101 $435,000 13.0% $215,000 $752,500
2008 82 $475,000 9.2% $20,000 $1,100,000
2009 87 $497,500 4.7% $215,000 $800,000
2010 91 $581,000 16.8% $20,000 $1,050,000
2011 78 $550,000 -5.3% $166,666 $846,000
2012 74 $551,075 0.2% $280,000 $755,000
2013 70 $585,750 6.3% $290,000 $768,500
2014 17 $565,000 -3.5% $335,000 $686,000

For Aspendale Gardens (3195) growth report Pricefinder.

Nothing too spectacular.

Personally, I'd rather buy in Aspendale, Edithvale, Chelsea for around that price and be close to railway and beach. That's if you still want to be in the area.

Interesting stats and as mentioned maybe it is a sign prices will go up soon to catch up to everyone else if they have been stagnate for 4 years.

Just speculation but it does seem like it could happen.