Frankston North
- Thread starter Bayside
- Start date
The amount of houses available for sale seem to be extremly low at the moment.
I just bought a 4 bedroom house in Frankston North, our first investment property. I drove past those vacant blocks this morning and began salivating.
I'm well aware of the reputation the area has but I believe in reality the area has definitely changed. Like it or lump it, the more of those weather-clad commission homes are demolished, the better for our back-pocket. It must still be the cheapest bayside suburb in Victoria. I'm rapt!
I just bought a 4 bedroom house in Frankston North, our first investment property. I drove past those vacant blocks this morning and began salivating.
I'm well aware of the reputation the area has but I believe in reality the area has definitely changed. Like it or lump it, the more of those weather-clad commission homes are demolished, the better for our back-pocket. It must still be the cheapest bayside suburb in Victoria. I'm rapt!
Nice one Donners, I think the location is so great, Frankston North will keep changing, lets face it... it's a really small area anyway so shouldn't take very long. Prices nudging $300k now and stock moving quick. Wish I had of purchased 2
Are you sure about that? I know 2 of them are private owners....
Not to mention the 3 adjacent vacant blocks that are being developed in Candlebark Cres just off Forest Drive or the 2 adjacent blocks being developed directly behind my IP.
You seem to know the areas that are still owned by the housing commission, surely you know the addresses?
Perhaps I asked the address because I work in the Building/development industry and most of the work commissioned in there is by the DHS. I do not think they are any developments happening in candlebark (I could be wrong as I havent been down there a while).
All the demolitions that are currently taking place in Lehmann crescent (near the pool) are owned by DHS and that is fact.
The new house in Forest Drive is DHS as well.
DHS is currently doing a lot of demolition/reconstruction work in Frankston North and Frankston South (frome ave area) In frankston South they sold off many of the blocks.
I do not drive down to fankston north that often perhaps once a fortnight, but generally know who is doing what when it comes to new construction.
Perhaps you know something I dont, I am sure you do. Which are they private owner developments ? I am sure there are some I would like to check them out ?
My apologies, the 3 adjacent blokes I was referring to I believe are those at Lehmann Cres.
My IP is at Jarrah, directly behind me there are 2 privately owned adjacent blokes that are to be redeveloped - don't know the house numbers.
There are several on Forest Drive that are vacant, I know that at least 1 is private.
A little disappointing re: Lehmann Cres. considering the council is trying to clean up the neighbourhood. Are they building new houses there? Good thinking if so, they can wreck new houses instead of the old ones.
Hello all
I have been following the sale prices in Frankston North over the last year or so as I have my 1st IP there and it seems that the prices have been on a slow and steady increase. The amount of homes sold each weekend looks to have dropped significantly since this time last year although I do only have access to the property results in the Sunday Herald
From this though I have noticed that on average the prices have gone from approx $220,000 to $270,000 in the 12 months. This is reflected in the figures that are accessible via real estate.com
Date Median House Price
Apr-09 $220,000
May-09 $247,000 -
Jun-09 $237,000 -
Jul-09 $245,000
Aug-09 $245,000
Sep-09 $237,500
Oct-09 $252,000
Nov-09 $240,000 -
Dec-09 $252,500 -
Jan-10 $270,750 -
Feb-10 $280,000 -
One question i have is are the figures used by real estate.com just an average of the sales made from their website or are the figures derived from a more accurate source.
I have also noticed that there are now plenty of properties in North Franga advertised at $300,000 plus but not many (If any) are being sold at this price. Is this just people testing the market by putting their homes on the market with the hope of getting a great price for it or is North Frankston ready for these prices.
Cheers
PL
I have been following the sale prices in Frankston North over the last year or so as I have my 1st IP there and it seems that the prices have been on a slow and steady increase. The amount of homes sold each weekend looks to have dropped significantly since this time last year although I do only have access to the property results in the Sunday Herald
From this though I have noticed that on average the prices have gone from approx $220,000 to $270,000 in the 12 months. This is reflected in the figures that are accessible via real estate.com
Date Median House Price
Apr-09 $220,000
May-09 $247,000 -
Jun-09 $237,000 -
Jul-09 $245,000
Aug-09 $245,000
Sep-09 $237,500
Oct-09 $252,000
Nov-09 $240,000 -
Dec-09 $252,500 -
Jan-10 $270,750 -
Feb-10 $280,000 -
One question i have is are the figures used by real estate.com just an average of the sales made from their website or are the figures derived from a more accurate source.
I have also noticed that there are now plenty of properties in North Franga advertised at $300,000 plus but not many (If any) are being sold at this price. Is this just people testing the market by putting their homes on the market with the hope of getting a great price for it or is North Frankston ready for these prices.
Cheers
PL
The really good properties in Frankston North are selling for over $300,000. This time last year good properties in Frankston North were going for about $250,000. Now nearly all the properties are going over $250,000.
People who invested in Frankston North about a year ago, should be happy with the results. We bought our property in November 2008 and I think the property has gone up in value by over 20% since then, which we are very happy about.
Considering Melbourne properties have gone up, I think soon one won't be able to buy anything under $300,000. in Frankston North. I believe the growth is sustanable as it has come from a very low base.
Also look at the rental market in Frankston North. It's generally going up as well. Don't expect Frankston North to ever be the median house price of Melbourne, however it shouldn't also be the 10 cheapest suburbs of Melbourne.
I haven't heard of anyone that has recently invested in Frankston North have a bad word to say about it, so that's extremly promising.
People who invested in Frankston North about a year ago, should be happy with the results. We bought our property in November 2008 and I think the property has gone up in value by over 20% since then, which we are very happy about.
Considering Melbourne properties have gone up, I think soon one won't be able to buy anything under $300,000. in Frankston North. I believe the growth is sustanable as it has come from a very low base.
Also look at the rental market in Frankston North. It's generally going up as well. Don't expect Frankston North to ever be the median house price of Melbourne, however it shouldn't also be the 10 cheapest suburbs of Melbourne.
I haven't heard of anyone that has recently invested in Frankston North have a bad word to say about it, so that's extremly promising.
This thread was started back in 2008, I purchased my place just at the start of the GFC when alot of people were saying the market would drop by 40%
Frankston Nth median price at the time was $230k and I picked my place up for $218k so i'm happy with the growth. Looks like anything on a good sub-dividable block is being advertised for over $300k and selling for over $280k
Lets face it Frankston Nth is in a great location so things in the area will only continue to get better.
Frankston Nth median price at the time was $230k and I picked my place up for $218k so i'm happy with the growth. Looks like anything on a good sub-dividable block is being advertised for over $300k and selling for over $280k
Lets face it Frankston Nth is in a great location so things in the area will only continue to get better.
I'm interested in stories of people who have invested in Frankston North that have had a bad experience. I know the reputation that Frankston North has, however I've only heard of postive reports from people who have invested in this area. (myself inclulded).
Does anyone have a story about the tenant from hell from Frankston North. I have not heard of a story about this yet, though it has that reputation.
Does anyone have a story about the tenant from hell from Frankston North. I have not heard of a story about this yet, though it has that reputation.
I saw an agent about 12 months ago, and asked to inspect a property that was for sale, he said he could take me past and have a look but not inside,
he said that the tenant had threatened the real estate agency and almost got into the physical altercation because he assumed that selling the house meant he was going to get kicked out
Do you mind me asking which street that was or don't you remember? I have a similar story although we were able to enter the property... the tenants however were still in there as they refused to leave. It was on Monteray Boulevard. Nevertheless, the property eventually sold.
