Frankston North

[Sconti]

The street that I own my investment property in has just been resurfaced and lined with lovely drooping sheoaks. Seems alot of roads are being resurfaced at the moment and the park lands are looking fantastic. Very happy with all the changes going on That and I purchased for $60k haha, probably now worth $300-$320k

 

[LMcC]

virgin post

Hi all, this is my first post and seems there are a few people here that know alot about f/nth.

I'm looking on the net now with a limit of 290k, what ones in your honest opinion seem like good buys?

Its for purposes for my dad to live in with long term plan to develop.

Any tips would be appreciated.

Cheers

 

[Righteous Toss]

Hi all, this is my first post and seems there are a few people here that know alot about f/nth.

I'm looking on the net now with a limit of 290k, what ones in your honest opinion seem like good buys?

Its for purposes for my dad to live in with long term plan to develop.

Any tips would be appreciated.

Cheers

Buy something on as big a block as you can find close to the fringe. Ballarto rd end across from Balvadere shops, anything off Excelsior drive. Brick places over cement sheet

 

[LMcC]

Buy something on as big a block as you can find close to the fringe. Ballarto rd end across from Balvadere shops, anything off Excelsior drive. Brick places over cement sheet

cheers mate. much appreciated

 

[Property Pig]

Just picked up another in Frankston North. Looking at holding long term and subdividing. Happy days!

 

[Bayside]

Just picked up another in Frankston North. Looking at holding long term and subdividing. Happy days!

How did you go Pig? Any luck? I just noticed median has hit $310k on realestate.com.au I'm not sure i can afford another now. Grrrr

 

[pickle pickle]

What is going on in Frankston North. As of when I write this 61 properties are available for sale on realestate.com.au. Yes some have probaly already been sold and there's a bit of repeat ads in that 61, but 61 and rising. That is a record since I've been following Frankston North (nearly 3 years).

Why are so many vendors putting there properties on the market? Has it got something to do with the fact that in 2009 Frankston North residents were most likely to default on there bills and loans according to Dun & Bradstreet?

For now the rental market seems to be holding up with an average amount of supply for Frankston North.

 

[Property Meister]

could i possibly have anything to dowith the fact that frankston north is probably one of the cheapest metro areas of vic that you can buy a full house (hi annie lumen, hope you are reading this, we miss you )and hence people with very very low median incomes are living here and now that costs are rising left right and centre . Its these people that are finding that they cant afford mortgage payments even before the rates have risen? Could it also indicate a flow on effect?

 

[Fifth]

could i possibly have anything to dowith the fact that frankston north is probably one of the cheapest metro areas of vic that you can buy a full house (hi annie lumen, hope you are reading this, we miss you )and hence people with very very low median incomes are living here and now that costs are rising left right and centre . Its these people that are finding that they cant afford mortgage payments even before the rates have risen? Could it also indicate a flow on effect?

Yep. Investors cashing out, too. Prices seem to be softening in the area a bit. I'm seeing more houses in Frankston North being advertised for 270+ instead of 290+. I don't follow the market closely, but that's been my casual observation.

 

[newbyinvestor]

It's obvious some people who post on this forum have blinkers on.
1: Prices throughout Frankston have softened so it's not logical to expect Frankston NTH to be immune from the current market is it?
2: Bargains are and will continue to pop up IMHO in the more desirable parts of Frankston so why wouldn't Frankston Nth prices soften?
3: Fact is that the rental return of the huts in Frankston Nth is less than even poor old Karingal, so again do investors in Frankston Nth think their property will somehow be immune from the big picture?

 

[pickle pickle]

NewbyInvestor, my question isn't why prices in Frankston North are softening (which I assume most people expected considering what is going on with Melbourne property), but rather why there are so many properties available for sale?

I've been following Frankston North property on realestate.com.au for nearly 3 years now. By far the number of listings on the website at the moment is the largest number of listings I have seen for the area.

Unless people are in financial stress, I just don't understand why people would sell in this market.

 

[newbyinvestor]

NewbyInvestor, my question isn't why prices in Frankston North are softening (which I assume most people expected considering what is going on with Melbourne property), but rather why there are so many properties available for sale?

Pickle, I'll have a stab and say that the situation with Frankston Nth isn't a total disaster.. Prices were going silly late last year and vendors have been reluctant to reduce the price to meet the market. When vendors start being more realistic the clearance rate will improve.



I've been following Frankston North property on realestate.com.au for nearly 3 years now. By far the number of listings on the website at the moment is the largest number of listings I have seen for the area.

There is a similar oddity in Wendouree west it seems, where in the current market the ex commission cheapies aren't selling despite the relatively cheap price.

Unless people are in financial stress, I just don't understand why people would sell in this market.

Time will tell.

 

[pickle pickle]

As long as the rental market holds up, I'm not too concerned about what happens on the selling side for the short term. If the rental market experiences problems, then I'll worry.

 

[The Donners]

What is going on in Frankston North. As of when I write this 61 properties are available for sale on realestate.com.au. Yes some have probaly already been sold and there's a bit of repeat ads in that 61, but 61 and rising. That is a record since I've been following Frankston North (nearly 3 years).

Why are so many vendors putting there properties on the market? Has it got something to do with the fact that in 2009 Frankston North residents were most likely to default on there bills and loans according to Dun & Bradstreet?

For now the rental market seems to be holding up with an average amount of supply for Frankston North.

I've been following the Frankston North market for 2 years. As I type, 15 of the 60 listings for Frankston North are new builds (6) or parcels of land (9), that, I have never seen. The new builds range from $304k - $400k, the parcels of land $115k - $195k and established homes $220k - $420k.

It's the first time I've seen a new build for $400k and the first established home I've seen for over $400k. They have to sell before I get carried away but I haven't noticed the prices declining.

 

[Bayside]

I'm currently living in my Frankston Nth house doing some renovations - I'm building a deck & pergola plus doing some cosmetic changes. It seems the area has come along in leaps and bounds since last time I was here 3yrs ago.

 

[pickle pickle]

I've noticed there are now 30 places available for rent in Frankston North. Take into account around 60 properties available for sale we are getting into high supply and low demand in my opinion.

 

[Sez]

I know I am jumping in at the end here but I just wanted to say that Frankston North - it is always harder to rent a place out as for renters there isn't a huge demand in the area. Also hard to acheive good rental prices, as has already been pointed out you need to keep your prices below Karingal rents to really attract people to the area.

In the last 12 months I had a lot of landlords sell off their properties in Frankston North, mainly because they purchased them many years ago for approx 60k and their value is now up around 270k. Time for them to cash in, retire & no longer have to deal with the tenants as far as they are concerned.

I've also noticed far more renovations happening in Frankston North. It will be interesting to see if it can shake off it's current label as the 'least desirable' Frankston location in the next 5 years given the money which people are putting into the area. Only time will tell .

 

[Melbournian]

people who bought it for 60K are laughing.

the rest in the last few years . not so..

honestly, can't really see much upside in this suburb. they're plenty of other better locations to buy. wonder where is annie lumen when you need her views.

 

[pickle pickle]

people who bought it for 60K are laughing.

the rest in the last few years . not so..

honestly, can't really see much upside in this suburb. they're plenty of other better locations to buy. wonder where is annie lumen when you need her views.

People who bought in late 08 and early 09 I think are happy with there Frankston North investment.

In time I believe Frankston North will be more desirable than Karringal because Frankston North location is better than Karringal. I think besides the areas very close to the bay Frankston North has a better location than Frankston South. In the long term I see great potential in Frankston North.

 

[Sez]

I agree that long term Frankston North could do very well but for the meantime for people renting Karingal still remains more desirable.

I don't know that I would agree on the Location being better than other areas of Frankston, other areas of Frankston have a lot to offer each area offering different perks to suit what each person is looking for. I guess it all comes down to personal requirements as to the most desirable location!