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

Are you related to grand_dad or Lord_Shanghai?

Hehehe, no.

But this is massive for Frankston. It's a sign of higher prices for sure - it's setting a benchmark whether we like it or not. I think the rules of investing are starting to pay off. Don't go with your gut, go with facts and history of what has happened in other areas with time. Gentrification, Government expenditure, infrustructure projects, etc, etc.

It was always going to happen...
 
Hehehe, no.

But this is massive for Frankston. It's a sign of higher prices for sure - it's setting a benchmark whether we like it or not. I think the rules of investing are starting to pay off. Don't go with your gut, go with facts and history of what has happened in other areas with time. Gentrification, Government expenditure, infrustructure projects, etc, etc.

It was always going to happen...

There's a lot of BV in Franga and this is a federation with original features. It's beautiful.
 
That house is fantastic in the best pocket in Frankston on a big block with plenty of scope for a renovation to expand a master with ensuite.
All that a stones throw to the beach is an amazing result???
 
Properties in the high school zone sell for 18% higher than comparable properties just outside of it. Admission to the school is a major factor as FHS keeps very tight residential requirements.
http://www.heraldsun.com.au/news/vi...high-school-zone/story-fni0fit3-1227202788169

Zone is defined as per this map: http://www.fhs.vic.edu.au/downloads/zone-map.pdf

From FHS website:
An enrolled student residing in the zone must live with his/her parents. Staying with a relative or friend does not qualify guardianship and is not a criterion for enrolment unless supported by the relevant papers endorsed by the Family Court of Australia.

Please be aware, the requirement for eligibility is permanent residency within the zone. The intention of the neighbourhood zone policy is for residency to continue for the duration of the child?s enrolment at the school. Residency must be taken up and authenticated by a member of the Principal Team or representative before the enrolment procedure can commence.

Proof of permanent residence within the school?s designated neighbourhood zone will be required for all applications seeking a place on residential criteria. It is the responsibility of the family to provide satisfactory evidence to the school to demonstrate their permanent residency. A private rental agreement (between a landlord and tenant) will not be acceptable.

This pocket of Frankston is the one with most potential for immediate and long term growth. Additional to the high school the FHS Zone houses the Frankston hospital (largest employer in the area), a Monash Univeristy Campus, is close to the beach and bordering Frankston South / Mount Eliza. There are still some great buys to be had as there are a few remaining quarter acre blocks with old houses on them. If you look hard enough you can still pick up land here for around $500-600per sqm
 
Amazing, to be honest it looks pretty overpriced to me already (it's around as far out as Pakenham with a smaller train line, closer to dandenong quality homes but has the beach and lots of nice infrastructure and a variation of demographics). There's millions going into re-gentrifying the train station area I'd imagine this will provide some good growth in the short term, houses located central were as low as 240k only 2 years ago now you can't find a single one in the same area for under 300k, I can't justify buying there now myself but it looks like it can only go up!

Some weatherboard portables on Froome Avenue for 390-410k seems like pretty good value? Not quite Olivers hill but is in the FHSZ and I'd imagine a larger land component would be better growthwise than something central? Then perhaps central could outgrow "better" Frankston areas with all the new money they're pumping into it.
 
I reckon that price is standard for the area. Its f south. Everyone wants to live in f sth. My mate has a house in verner and its a nice place but all the bloody traffic! And the mums parking everywhere in the street so annoying!!!!!! If i was paying that much id wanna away from all that ****!
 
well for a start its asbestos, so i wouldn't buy it (but hang on its brick!?!?!?)

yes but its still asbestos "brick" also 602sqm is a good size, the area is good and well it needs a bit of work to be a good reno but would cost alot to reno. i reckon say 60k+

if i were to buy this id just knock it over cause essentially you r just paying for the land.
 
Yeah fair enough, but I wonder if it is weatherboard beneath the asbestos brick cladding. Plus aren't you going to find asbestos in literally every pre 1990 house, I guess normally it wouldn't be this prolific but still.
 
ahhhh. no. if its asbestos, its asbestos. wont be anything but that. but hey if you wanna check it out go for gold.
 
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.. :D
 
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.. :D

I know a little about worthy sales figures in Glen Waverly, but it's all relative.

But half a million bucks for Frankston? My point is that you just don't associate $500K with a run down, ready to demolish property in central Frankston. But obviously the bar has been raised and the expectation now set. Ladies and genteleman, start your engines...
 
http://images.smh.com.au/2014/05/13/5423033/art-st-kilda-road-620x349.jpg

Someone better buy this before it's worth 10 bazillion dollars. Might even make some neighbours at the heroin correction facility next door.

When a house in Frankston cost the same as Narre Warren all you can do is laugh, but Frankstons had it's movement this cycle whereas Narre is probably only just getting hot now, it will catch up along with all the surrounding suburbs bar Doveton.

I'd prefer investing (and living) in Franga over Narre any day. Narre hasn't exactly got much going for it does it apart from new(er) houses?
 
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