frankston is going now where - distance, low socio-economic factors etc.
Frankston North
- Thread starter Bayside
- Start date
I wouldn't be so sure of that.
They have there own economy down there and one which I think will get bigger. Some of the banks already have offices there and when you consider how much of melbounes poPulation is in the south and the increasing popularity of the peninsula I think others will follow.
Granted this might be some time off
Having said all that I think prices are already too high in Melbourne in comParison to wages so everywhere is going nowhere.
lived in mt eliza 2 years and i know frankton to some degree as i investigated into buying in that area.
the office of South East Water limited is also moving to frankston but will it affect the jobs in that area - not really coz 80% of the ppl already live in that area.
there are also ppl who are trying to sell their places for more than a year with prices being reduced and still got nothing. there are a lot of blue chip workers who live in the area and when the income levels are only x amount compared to other suburbs i find it hard to believe anything substantial can be achieved. there were gains no doubt couple of years ago but highly unlikely to achieve anything substantial in the near future.
the whole of melbourne property market has stalled overall but buying in frankston as an investor in my opinion is just as suicidal as buying a 40sqm apartment.
the office of South East Water limited is also moving to frankston but will it affect the jobs in that area - not really coz 80% of the ppl already live in that area.
there are also ppl who are trying to sell their places for more than a year with prices being reduced and still got nothing. there are a lot of blue chip workers who live in the area and when the income levels are only x amount compared to other suburbs i find it hard to believe anything substantial can be achieved. there were gains no doubt couple of years ago but highly unlikely to achieve anything substantial in the near future.
the whole of melbourne property market has stalled overall but buying in frankston as an investor in my opinion is just as suicidal as buying a 40sqm apartment.
At this point in time, I'd have to agree. It's catching a falling knife.
Some people have done well out of Frankston and further down the road they may do well again, but the next few years are a write-off.
Too many investors bought in, with many looking to get out. Tenants have their pick of properties so the returns aren't exactly compensating for falling values.
It's been.
My SIL bought her place in The Pines (pronounced Th' Poines, mate) in approx 2002 for $93k from memory.
Sold the house last week for $275k.
This was after she sub-div'ed the block (cost approx $25k) and sold it about 2 months ago for $95k.
2002 is like 10 years ago - while i was still in uni
even if anybody bought anything basically nearly anywhere prior 2009 - they would have made something
my reference was more to current times.
even if anybody bought anything basically nearly anywhere prior 2009 - they would have made something
my reference was more to current times.
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In response to a letter forwarded to homes located in the Karingal area earlier last week, I have attached a link, which I believe could be of significant interest. Please be aware, it is quite a large document and will take a while to open.
http://www.frankston.vic.gov.au/library/scripts/objectifyMedia.aspx?file=pdf/378/36.pdf&siteID=18..
Toni
http://www.frankston.vic.gov.au/library/scripts/objectifyMedia.aspx?file=pdf/378/36.pdf&siteID=18..
Toni
seems Frankston North is starting to pick up again, a lot selling. Must be all the work going on in the area
Thanks for the link Toni. All of Frankston will hopefully benefit from this news.
http://www.realestate.com.au/property-house-vic-frankston+north-113539979?rsf=emailalert-propdetails
this one is a good price if you really can get it for $200k,
thats 2008-2009 prices
this one is a good price if you really can get it for $200k,
thats 2008-2009 prices
Seems to be a bait advertising. The agent does not answer his phone. Outrageously cheap. Looks like a dual occ site as well. ie. over 600 sqm
Scrolling down to the recent sales, it sold for $225k back in Jan. So maybe the agent's not had the ad removed or the sale fell through (it has an inspection date for next Sat).
The monthly average for the area (not sure how many homes this involves which could be very small) is just $210k.
35 aleppo was quite a dump to be honest. the rooms and kitchen were nice considering the area its in, but the kitchen is as bad as the photo and the bathroom was even worse, there was no laundry and the toilet was at the opposite end of the house to the bathroom...
as for it being sold earlier in the year it must have been a trigger happy agent who listed it as sold, but then it fell through, i think this because on the section 32 the owner has had the property for around 10 years.
it takes a while to drive from the main entrances to frankston north to the property also which would get annoying.
the owner has now gone bankrupt or something because the bank are now going to auction it off. this was a genuine listing, but they didnt get the offers they needed in the time they had
as for monthly average, i dont particularly like going by the properties sold via auction (mainly because i cant do auctions so i ignore the stats) i just look at the normal sales which are normally a substantial amount more.
as for it being sold earlier in the year it must have been a trigger happy agent who listed it as sold, but then it fell through, i think this because on the section 32 the owner has had the property for around 10 years.
it takes a while to drive from the main entrances to frankston north to the property also which would get annoying.
the owner has now gone bankrupt or something because the bank are now going to auction it off. this was a genuine listing, but they didnt get the offers they needed in the time they had
as for monthly average, i dont particularly like going by the properties sold via auction (mainly because i cant do auctions so i ignore the stats) i just look at the normal sales which are normally a substantial amount more.
