Carrum Downs,Vic

Can anyone suggest if it's worth buying an investment property in carrum Downs?
- Rental demand for this area?
- Capital growth in this area?

Ra.
 
Same class of residents as Frankston Nth only newer houses and a geographically worse location. Frankston Nth has actually become alot quieter since alot of the riff raff moved onto Carrum Downs. Satelite city!
 
Same class of residents as Frankston Nth only newer houses and a geographically worse location. Frankston Nth has actually become alot quieter since alot of the riff raff moved onto Carrum Downs. Satelite city!

harsh but true, every street gets "marked with rubber"
 
Hi Ramalean,

I do not disagree with the above posts that it is generally a rougher area and this probably means that the majority of guys posting here in this forum wouldn't want to live in that area.
But not everyone can afford the luxury of living on the sunny side of Frankston ;)

From an investment perspective it doesn't look too bad actually. CD had about a 7-8% capital growth rate over the last 4-5 years which is a bit less than Frankston, but CD was more consistent if that counts anything.
It has been a while since I last looked at the vacancy rate for CD but it was generally quite low.

So is it the new hotspot? Unlikely.
Is it a good area to invest in? It's probably not as bad as the previous posts suggest.

- Void

P.s. Take the above with a grain of salt, I probably look at it through some pink glasses as I own an IP in CD, but CF+ stays CF+ even without pink glasses :)
 
Same class of residents as Frankston Nth only newer houses and a geographically worse location. Frankston Nth has actually become alot quieter since alot of the riff raff moved onto Carrum Downs. Satelite city!

Can you please expand on the logic behind how the supposed "riff raff" are migrating to Carrum Downs which is an area that does have newer more expensive houses?

And as for labelling an entire suburb with a negative vibe, i do understand that we are all limited to our our own views on things....but there is riff raff everywhere....including "more expensive" areas
 
Can you please expand on the logic behind how the supposed "riff raff" are migrating to Carrum Downs which is an area that does have newer more expensive houses?

And as for labelling an entire suburb with a negative vibe, i do understand that we are all limited to our our own views on things....but there is riff raff everywhere....including "more expensive" areas

As Frankston and Frankston North gentrified, developers started buying out the homes of the local riff raff who then moved on to cheaper inland areas nearby - Carrum Downs is one such neighborhood.

I'm not saying Carrum Downs is bad value, there are many lovely town houses there and prices will gradually move up with inflation; goodness knows they surely cannot fall as they are already off a low base. But it's not a suburb that has gentrification potential. Great for a PPOR, if you don't mind the bogan neighbors with their powerful new Holdens. But virtually no development potential.
 
As Frankston and Frankston North gentrified, developers started buying out the homes of the local riff raff who then moved on to cheaper inland areas nearby - Carrum Downs is one such neighborhood.

I'm not saying Carrum Downs is bad value, there are many lovely town houses there and prices will gradually move up with inflation; goodness knows they surely cannot fall as they are already off a low base. But it's not a suburb that has gentrification potential. Great for a PPOR, if you don't mind the bogan neighbors with their powerful new Holdens. But virtually no development potential.

i have made the point before that gentrification of a suburb can occur with either redevelopment oof existing properties, or newer higher quality homes being built on newer subdivisions in an area.this is what is occurring in carrum downs at the moment.

Its these newer properties getting built that help lift the value of older established properties,so gentrification "is" occuring on the ground in CD at the moment.

Like i mentioned previously....there are probably bogans, snobs, losers, idiot and riff raff in all suburbs...
 
I think you'll find that like all areas there are good and bad parts. The area closes to Frankston North I personally find rather mundane and not the sort of place I'd live which is probably my main criteria for purchase. Further north it's a lot more family oriented and has some lovely areas. Blanket sayings like it's all bad, or filled with bogans that have escaped from the latest gentrification suburb is entirely wrong.
As for investment potential - yes, in my opinion, but that depends on all those due diligence issues. Having watched properties anecdotally move from 280 to 320 plus over the last 18 months helps my view. New land releases and new housing might modify that view if I looked seriously.
 
Back
Top