Frankston North???

[kendo5181]

Does anybody here know about the Frankston area in Victoria, especially Frankston North? I am thinking about investing there as the area seems to be underpriced with longer term potential... It is an old government housing estate suburb, with Frankston itself on the bay 50 kms from Melbourne.
Historically, does anybody know what usually happens to an area when these types of houses are sold en masse to the public (and I assume a lot of investors)?
Thanks...

 

[geoffw]

Frankston has been discussed a few times- here is one thread to start you off.

There are others- if you use the search function at the top, you'll be able to find out a lot of info.

 

[Michael Yardney]

Frankston is a big suburb and is a great place to invest. Only today we bought a property in Frankston for a client.

But Frankston Nth is the cheapest and least desireable part of Frankston (and that's being nice) It is cheap and is unlikey to change due to the demographics of the area. It is NOT underpriced. you are likley to do better looking elsewhere.

 

[Monopoly]

Frankston is a big suburb and is a great place to invest. Only today we bought a property in Frankston for a client.

But Frankston Nth is the cheapest and least desireable part of Frankston (and that's being nice) It is cheap and is unlikey to change due to the demographics of the area. It is NOT underpriced. you are likley to do better looking elsewhere.

I must say, I am surprised by your last comment here Michael. I would have expected you to have done your homework on Frankston North, especially as you have purchased a property in Frankston for your client. The distance between Frankston (central) and Frankston North is not huge, and although the socioeconomic demography differs between the sectors of Frankston (say between South and North) they are both relatively in close proximity and do impact each other.

I suggest you research ALL of Frankston before you dismiss parts of it. True, Frankston North is "less desirable" (I have said this so often it hurts) BUT.....it is not without some merit and hence, is worth considering for THE LONGER TERM!!!!

Methinks you'll be reading back over this thread in a decade or so Michael, and all the while, begrudgingly munching away on humble pie.

Cheers,

Jo

 

[Michael Yardney]

I must say, I am surprised by your last comment here Michael. I would have expected you to have done your homework on Frankston North, especially as you have purchased a property in Frankston for your client. The distance between Frankston (central) and Frankston North is not huge, and although the socioeconomic demography differs between the sectors of Frankston (say between South and North) they are both relatively in close proximity and do impact each other.

I suggest you research ALL of Frankston before you dismiss parts of it. True, Frankston North is "less desirable" (I have said this so often it hurts) BUT.....it is not without some merit and hence, is worth considering for THE LONGER TERM!!!!

Methinks you'll be reading back over this thread in a decade or so Michael, and all the while, begrudgingly munching away on humble pie.

Cheers,

Jo

Jo

Thanks for the comments.

I have definately eaten my share of humble pie over the years. Maybe that's why I am so well rounded

We did indeed do some intense study and research on all of Frankston. Interestingly we had a meeting on it in our office on Wednesday this week with some 'outsiders ' who know the areawell, giving us their inside knowledge. This included the ex senior town planner from the Frankston City Council.

I guess it depends upon what you are looking for in proeprty and this is where I made an assumption.

If you are looking for capital growth, there will always be suburbs that outperfom the market and others that underperform.

Some suburbs always outperfom others (usualy the same suburbs.) Some streets in each suburbs will always be more popular than others and outperform. And even in the best streets, some properties will have better capital growth than others.

There is little to suggest that Frankston Nth will ever be one of the star perfomers.

You could probably get more bang for your bucks elsewhere.

 

[Rick Traberg]

I agre with you Monopoly I bought my first investment property in Frankston 10 years ago paid 120k sold it a couple of weeks ago for 465k . Frankston north will move with the rest of frankston but at an equal % not dollar for dollar. ( roughly anyway ) and while you can get up to 6 or 7 return its not to bad , doesnt cost to much to own property . I would love to buy property in nth Frankston hold on to it for 10 years and see what happens.

Cheers Rick