Carrum Downs vs. Frankston North

[dragun]

Hi guys,

I've been looking down toward the Mornington peninsula for my next place. Some of the coastal suburbs like Seaford seem to have quite low gross yield and prices have had a bit of a burst recently. Frankston is kind of in the same boat, however Frankston North (despite the socio-economic status) seems much lower median with good yield and good long term growth.

I've also been looking at Carrum Downs which is slightly inland but has access to all the same major transport links and is still only 15min from the coast. I've noticed the yield is much better due lower medians but longer term growth hasn't been as good. Does anyone have any experience down there and know the reason for this?

Any info about the area/specific suburbs to avoid and why would be fantastic.

Back to my research..

Thanks all!

 

[Lord Shanghai]

Personally, I'd prefer Frankston and Seaford for CG opportunity. Carrum Downs houses are generally on smaller lots and there is little or no subdivisional opportunity. Im not sure of what Frankston yields but when I last looked 5% seemed fair.

 

[Truly Exotic]

definitely frankston,

carrum is almost like the younger bro/sis of frankston with prices not much different

more development/urbanisation going on in Frankston

 

[grand dad]

I concur.

Definitely Frankston/Frankston North/Seaford. Why? Because larger blocks, with redevelopment opportunities mean more capital gain.

My only caveat: if you want capital gain buy at the cheap end of the market, not the priciest end.

The LQ Median price in Frankston is now $344,000. Personally, I would not pay much more than this figure for property in Frankston unless I am chasing a PPOR.

Some useful resources:

http://www.realestateview.com.au/propertydata/median-prices/victoria/frankston/

http://house.ksou.cn/p.php?q=Frankston&sta=vic

 

[alicudi]

Hi

If you want to buy something cheap as in Carrum Downs/Frankston North to live in and have a slightly higher quality of life between the two areas well then choose Carrum Downs.

If you are doing this for investments reasons well Frankston North is the better choice by far. Yes you will get a slightly better building for the money in Carrum Downs but Frankston North could make you rich!

Carrum Downs wont do that.

Why do I own property in Carrum Downs?

Regards,

alicudi

 

[dragun]

Hi everyone,

Thanks for the replies. I had my suspicions that might have been the way to go but always good to get some opinions.

Much appreciated!