Frankston VIC or Springfield Lakes Qld

[stansman]

Need some opinions.

We are looking to purchase an IP. The two areas we are looking at are Frankston VIC and Springfield Lakes Qld.

Frankston because it is reasonably close to Melbourne, has the new highway on its way and close to the water. So seems like an area which is due to grow.

Springfield lakes because it is in the western corridor, has everything (schools, university etc) and the new Westfield due to be built.

Springfield is pretty expensive already. A 3 bdr, 2 bath, 1 car cottage $329,000. Rent $300 p/w. A 4 bdr, 2 bath, 2 car at least $400,000. Rent $320 p/w.
But has the horse bolted already?? Any thoughts.

Frankston seems to have reasonable priced properties. 3 bdr, 2bath 1 car $349,000. Rent $280 p/w.

But why hasn't Frankston already grown.

Our major aim is capital growth.

We'd be really grateful for any opinions. Thanks

S

 

[feihong]

hi:

if you have read some of the posts in this forum here you will know that Frankston has already gone up massively in the last few months. In fact, for the past decade, it has experienced rapid growth, barring a "mini correction" in 2005. The reason why the housing price in Frankston is relatively low in general is because it has a traditional low socio-economic background, and is still in the process of gentrification. Hope that will help a little bit with your decision