Frankston Bypass - Mornington property values

[Wannabe]

Hi guys,

I was talking to a real estate agent in Mornington about putting my IP up for sale because i need some extra cash for another project. During the conversation he mentioned something about the new Peninsula link and Frankston bypass and was hoping for some significant property gains after it is completed (2013 according to him). I can understand that its likely with the travel time to the city cut by a fair margin. Does anyone have any guesses as to what is likely to happen up there once its open? I'm not sure whether to hold off selling now and and see what happens in a couple of years. Any thoughts would be welcome.

 

[BayView]

There is no doubt that the new by-pass will bring more people to the (southern end of the) Peninsula.

Mornington, however, is in between the start and the end of the bypass, so most of the traffic will flow straight past it without stopping.

Mornington is a thriving seaside community already, so will always do ok, but I wouldn't be hoping for a sudden boom there after the bypass opens.

My guess is it will take about 10 mins off the travel time during normal times - this is about how long the delay can be going through the various roundabouts on the Peninsula freeway and the McMahon's rd interestion in Frangers when you are heading back into Melb from down here.

During holiday times when all of the Terrorists are heading back home like a flock of sheep, the delays increase.

We find this amusing; everyone heads home at roughly the same time on these days, creating a massive log-jam of traffic on the freeway. Sometimes it can take them 30 mins just to get on the freeway from Boneo rd down at the Rosebud entrance to the freeway.

Why not head home either very late on the last day of a holiday, or first thing in the morning on the day of work and miss the log-jam? But no; gotta head back home at around 4.00pm and sit in peak hour traffic all the way back...

From Mornington I don't think there will too much improvement in the travel time to the City (during normal times) - maybe 5 mins. This is because you currently miss most of the roundabouts, and only really catch the McMahon's rd section.

 

[Nick]

I see the fwy having big benifits for Frankston to Portsea with people to view Frankston, Mt Eliza and Mornington as liveable suburbs of Melbourne. With the fwy Frankston will only be 40 mins to CBD and Mornington only slightly longer - putting them both in the city market.

More importantly, my Sunday arvo surf runs from Melbourne's southern suburbs will be much more enjoyable with the holiday home induced roundabout conjestion relieved!

 

[Aaron_C]

People who have houses on Mornington or Flinders etc don't need a bypass. It's luxury holiday homes

 

[Righteous Toss]

I think Frankston North will be the big winner with its prime Bayside location and it's great access to Bypass & East Link. I'm buying up at the moment.

 

[Invest1]

The new Peninsula Bypass will certainly make a difference to property values from Frankston to Portsea. Frankston will finally be freed of the gridlock that it encounters, especially in the summer months. The values will more than likely appreciate once completed and the effects of the bypass are realised. I still think that Frankston property values are cheap when compared to other properties the same distance to the bay. We'll have to see!!

 

[Aaron_C]

The new Peninsula Bypass will certainly make a difference to property values from Frankston to Portsea. Frankston will finally be freed of the gridlock that it encounters, especially in the summer months. The values will more than likely appreciate once completed and the effects of the bypass are realised. I still think that Frankston property values are cheap when compared to other properties the same distance to the bay. We'll have to see!!

People in their Sorrent/Portsea mansions don't care about a bypass

 

[BayView]

People in their Sorrent/Portsea mansions don't care about a bypass

You'd be surprised.

Only a handful go down by chopper; the rest drive like you and I.

Even the rather wealthy enjoy hassle free driving...they are humans who like the same comforts we do after all.

One of my mates owns a 1.5m holiday home in Salonika st, Sorrento. Not yer super mansion, but still up there on the scale of good.

The PPoP in Malvern is worth about 6m.

These are yer majority of well heeled folk down that way.

He can't wait for the bypass.

 

[neeko]

im originally from portsea and i now live in frankston.

the thnig will peninsula link is that its going to cause alot of ciaos for local residents on the MP. this thing will destroy the MP of what it is really is. winter time is great ot many people down there and i can ejoy it , come summer ....ohhh jeeez!!!!! it gets prettttty bad!!!!!!!! once the freeway comes thru ..dont even bother coming down!

 

[BayView]

im originally from portsea and i now live in frankston.

the thnig will peninsula link is that its going to cause alot of ciaos for local residents on the MP. this thing will destroy the MP of what it is really is. winter time is great ot many people down there and i can ejoy it , come summer ....ohhh jeeez!!!!! it gets prettttty bad!!!!!!!! once the freeway comes thru ..dont even bother coming down!

Yeah; we "locals" get furious with the amount of rubbish that suddenly appears in bags, or not even in bags littering the beaches, streets, everywhere.

Miraculously it appears around holiday time. very

Don't start us on the grid lock traffic around the main streets.

aaaah; but think of the rising property values after the fact when a few more of the tourists go "jeez; it's so beautiful down here; let's buy a house here.

 

[buzzlightyear]

Here is an 'Age' article on what the Victorian Audit General thought of the by-pass

This is the actual report. Section 3 is the relevant section.

 

[Ms Jade]

Here is an 'Age' article on what the Victorian Audit General thought of the by-pass

Hard to argue with the idea that building bigger roads will end up causing more congestion if you look at what happened to eastern end of the M1 after the bypass was put in. I don't invest on the MP so I don't care too much about property prices rocketing or not. But from a lifestyle POV I would prefer less traffic and congestion. It's the old argument that progress will end up destroying the lifestyle amenity that attracted residents in the first place.

 

[neeko]

EXACTLY!!!!! sooooooo true ms jade!