Frankston is the cheapest beachside suburb in Australia with largish blocks that are ripe for eventual subdivision. I am committed to the area for this and other reasons.
Toni, please tell us more about proposed zoning changes? What advice would you have for a committed investor with a 5-10 year buy-and-hold outlook?
My plan is to buy and possibly redevelop someday. I'm interested in the cheaper areas of Frankston where many homes have been sold off far too cheaply by commission hungry agents intent on fast sales (tip: fast sales=fast commissions for minimal work).
Toni, you are obviously not an agent and you appear to own property locally. I'd trust your advice more than that of people who don't own or invest locally. Please share your succinct and well-informed views with us about the area's rezoning potentiality.
In particular: What areas of Frankston represent the best value for you? Have there been major rezonings in recent years? What rezoning proposals can we expect in the future? Does the council allow development of blocks under 600 sqm? How development-friendly is the council? What kind of things does the council knock back?
Please share.
Thanks in advance.
I am sorry I'm not as informed as you may think. Yes I have 4 properties in the Frankston area and have been monitoring the Frankston area (local papers, general papers and council for a long time now (10 years approx), however, I'm probably no more informed than anyone else.
Unfortunately it is very hard to know exactly what is happening in the Council or Government. So many things are kept under wrap and the first we hear of anything, is through the media and often even this is not reliable and/or apposed. This proposed marina has come under so much opposition and is one of many examples of ageing locals who refuse any kind of change to their area. Thankfully, we appear to have finally won that battle.
As for the zoning changes, it is my understanding that under the Governments proposed 2030 planning amendments, which I understand should be released shortly, government is wanting to introduce three zones in residential areas, setting up development assessment committees and bypassing municipal councils which will allow much more development than now without a permit.
Under the Government's proposal, council planning powers will be handed to a five-member development assessment committee - an independent chairperson and two representatives each of the relevant council and Government.
The committee will initially assess permit applications in five major centres, and Frankston - a designated activity zone - is listed for the second round likely to be announced soon
Mr. Brumby's announcement to slow urban sprawl and encourage higher density housing was criticised by councils and community groups.
Cr. Wardle said it would see up to five houses being built on larger blocks in Frankston South.
"If you have a 1000-square-metre block you'll get three two-storey houses without a permit. At the moment everyone has to apply (for a permit) and meet all planning controls. Applicants will be exempt from being challenged at VCAT (Victorian Civil and Administrative Tribunal) if Rescode standards are met. This basically means the whole place will be up for sale with high-density housing everywhere."
Cr. Wardle said existing controls including environmental significance design and development overlays "will go".
Cr Wardle said he "wouldn't be surprised" if developers delayed making planning applications because the new system would make it easier for them to have their plans approved.
He said land near railway stations would increase in price and there would be no guarantee of Mt Eliza retaining its character.
"If you can put five houses on two thirds of an acre, it will transform Mt. Eliza."
Culcairn Drive, Frankston, where 60 houses were on the way to being replaced by 600 dwelling was an example of what could happen.
"There are no protections. But probably the biggest problem for council will be increased traffic in suburban streets."
Whilst this is what has been proposed by Government, Frankston Council is aggressively apposing such changes and what the end result will be, who knows?
I have, however, rang council about this proposal and asked what the likelihood of such changes being passed to the 2/3 acre properties would be, and was advised that we had more chance around the Central Frankston region where local transport and facilities were more accessible.
So as you can see, still none the wiser. Really, again need to wait and see.
Toni