Frankston/Olivers Hill area

[north211]

Hi all this is my first post.

Interested in the Frankston/Olivers Hill area, saw a great thread on this including posts by Harris, Toni & number of others, but it's now closed.

I wonder if anyone can update me on what is happening in this area, including if possible.
*recent price movements & any thoughts on where they will go.
*Effect of new marina, & if any would you think there would be price increases after works start or some time after completed
*Effects of new freeway.
*Mornington vs Frankston South/Olivers Hill

I am particularly interested in (like many) development opportunity in future with rentable dwelling.

Thanks

 

[vladt]

Look at this recent thread:

http://www.somersoft.com/forums/showthread.php?t=58272

 

[north211]

Thanks vladt, but it doesn't cover a lot of what I was asking

Thanks

 

[Godees]

Hi all this is my first post.

Interested in the Frankston/Olivers Hill area, saw a great thread on this including posts by Harris, Toni & number of others, but it's now closed.

I wonder if anyone can update me on what is happening in this area, including if possible.
*recent price movements & any thoughts on where they will go.
*Effect of new marina, & if any would you think there would be price increases after works start or some time after completed
*Effects of new freeway.
*Mornington vs Frankston South/Olivers Hill

I am particularly interested in (like many) development opportunity in future with rentable dwelling.

Thanks

I've spoken to a few local residents recently and they all believe that the marina will significantly impact prices in Oliver's Hill. One was dubious as to whether it will ever go ahead as it has been mooted for the entire 12 years they've lived in the area. Apparently prices at Martha Cove are quite expensive on the back of the marina, but I'm unfamiliar with the real estate there.

Also, the Oliver's Hill area seems to be quite loosely defined. I'm not sure of the exact boundaries, but it seems to be any property along the Nepean Highway strip from the Frankston Waterfront in the north to Humphries Road in the South. However these properties need to be beach side of Kars Street and Baden Powell Drive.

Prices will vary considerably depending on whether they have bay views or not. The whole area is popular, but the land value from a dollar per square foot perspective will vary greatly depending on views.

21 Gweno Avenue sold recently for $570k approx. It was a pop top on the north side in very livable condition on land 650 sq mtrs. 34 Cliff Road is a vacant block (recently cleared) with stunning bay views and is currently on the market for $1.35m. There's another house on the cliff on the market for $3m +, so you see there's quite a diversity.

I doubt I've helped much.

The property below is worth looking at :

http://realestateview.com.au/Real-Estate/Property-Details-buy-residential-1522593_S.html

It's off Kars Street, but not the Oliver's Hill side.

 

[north211]

Thanks Godees that is a help, regards