Frankston - The half million dollar suburb...and then some.

[antistar]

Hi Dan89

I like buying Frankston for the following reasons:
- Great geo position on the bay, between the Peninsula and Melbourne
- Bordering $1m+ suburbs to the south all the way to Portsea
- Connected to the CBD by new Freeway, $50mil upgrade on train line
- Outside capital moving in within new high density zoning
- Fresh air and set along one of Victoria's cleanest beaches
- Advanced gentrification evident in the southern parts of the area
- Still has a terrbile stigma about it (which thankfully puts most of the competition off)
and most importantly:
- House prices in Frankston are currently fair relative to average Australian incomes. Considering the positives in the area this to me is very important, especially at times like today.

When the bubble bursts it will be the likes of Glen Waverley and other super inflated suburbs that will plummet from $1.5m down to their true value. Frankston currently presents great value based on Australian average wages and the positive changes happening in the area.

hahah at this post... "The half million dollar suburb...and then some"..

What is half a million dollars these days when talking property.. If you want to see some post worthy sale figures go and look up some recent sales in Glen Waverley.

Goodluck with your 'Frankston gold mine suburb' nonetheless..

 

[lawmich]

Are you talking about Frankston generally or specifically to North or South? I'm in Sydney so not terribly familiar. I like Springvale, a bit like Cabramatta in Sydney.

 

[WattleIdo]

Someone better buy this before it's worth 10 bazillion dollars.

Just looking on RE dot com and Franga now classed as a high demand area. The asking prices and sold prices certainly seem to be increasing. Still a decent amount of stock on the market so it hasn't gone silly or anything.
I suppose now that yields are down around Australia - even regional - a minimum 4.8% yield isn't looking as dismal as it was a few years ago - considering the buy in price and the current and planned infrastructure.
Really looking forward to seeing those improvements at the station. I think it'll make all the difference.

 

[neeko]

Central frankston now nearly nudging 400k for 3 bedders in the area.

http://www.realestate.com.au/property-house-vic-frankston-117693891

http://www.realestate.com.au/property-house-vic-frankston-119283871 that one sold for 380k

 

[TMNT]

Hi Dan89


When the bubble bursts it will be the likes of Glen Waverley and other super inflated suburbs that will plummet from $1.5m down to their true value. Frankston currently presents great value based on Australian average wages and the positive changes happening in the area.

you are not the first person to say this, however, I just cant see the glen waverley dropping ever,

I still dont get why its so expesnive too, yes the asians are everywhere,

I can understand box hill with its truly asian atmosphere, and proximity to the city, but glen waverly, I just dont get why its seen as such a premium suburb

 

[Genia]

I had a chat with REA that works in Glen Waverley area, he is a very successful Chinese bloke. Below is a little summary of what I heard from him.

Glen Waverley and Box Hill are the two Melbourne suburbs that are well known in China. Before people even come to Australia, they already know about these two areas.

People from China are buying property here, because they want to move to Australia. And they are happy and prepared to pay the TOP dollars to buy a property in those areas.

The majority of buyers in those areas are not speaking English at all. So it is very important for them to settle in the areas where the majority of businesses speak their language.