The latest REIV figures for the March quarter 2011 are in. Although the Melbourne market has cooled down to what it was in September 2010, the results for much-maligned Frankston North have been a huge surprise - prices are at an all-time high and well in excess of $300,000.
For those interested in development, Frankston North is heaven - the local council is very generous to would-be developers and most of the older houses are on dual occ blocks, allowing people to either demolish and replace with two units or, better still, retain the older front house and build a new townhouse up the back. You can say the same for older parts of Frankston, particularly in Karingal.
The naysayers have been finding fault with North Frankston on these threads for many years. Those developers and investors who ignored the negativity would have done very well for themselves.
For those interested in development, Frankston North is heaven - the local council is very generous to would-be developers and most of the older houses are on dual occ blocks, allowing people to either demolish and replace with two units or, better still, retain the older front house and build a new townhouse up the back. You can say the same for older parts of Frankston, particularly in Karingal.
The naysayers have been finding fault with North Frankston on these threads for many years. Those developers and investors who ignored the negativity would have done very well for themselves.