re: 990k sale
The property was in Gould Street and it sold at Auction earlier this month.
The property was in Gould Street and it sold at Auction earlier this month.
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I was talking to a BA who was involved in a recent sale in Frankston a property overlooking the bay area sold for $900,000. Does anyone know which property this was, I am just curious whether this was highest price ever for the area?
Cheers, MTR
Hi pawprints.
Can I ask how old the unit is and how much you paid?
Regards
Marty
highest price ever for the area........ you make me laugh. Some properties in South Frankston are worth in excess of several million dollars. There are properties beachside of Nepean overlooking the new Marina that are worth alot. Not to mention some of those on Olivers Hill.
Get off the internet and go for a drive around the Olivers Hill area. Nothing is like this in Melbourne. A VERY underrated area.
Out of interest, do you live on Oliver's Hill ?
No I dont. I live in Aspendale...
Olivers Hill is the only area between Frankston and the city that has these elevated views of the Bay. That to me is the underrated feature of Frankston.
I was wondering if people could share their experiences,
ive noticed that many properties that are being advertised (not sold as of yet)
asking price being about $350k, but current rental being $230-$250 per week,
this represents a very poor yield, I would be expecting at a minimum of 4.6% - 5%,
I undertand that with another interest rate rise before christmas, the market may change, but what are your thoughts on this poor yield,
as in just accept it as the market condition or keep looking at a 5% yield
Metropolitan houses are returning 3.9 per cent while units are producing the slightly higher yield of 4.5 per cent.
okie everyone, I see your point, this is the property I just chose at random sort of
http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=86090805&s=vic&tm=1257551627
asking price $350, current rental $240 per week (we all know that asking price and selling price can be very different, but from what I ve seen, you basicallly have to offer the asking price to get anything in this area)
http://www.realestate.com.au/cgi-bi...LIA&c=66470664&p=10&s=vic&t=res&tm=1257404441
$230 per week, asking price as high as $330k