Frankston VIC - Please Help

[Rick Traberg]

Micheal Yardley

Frankston had 2 years in a row in the early 2000s of just under 50% each year. In the year 2000 I nearly bought a block of 6 units in Frankston south for 380k they were returning 36k a year so my offer was 360k I was chasing 10%. I didnt end up buying the property.That same property sold just over a year ago for just under 900k.
Do you think that investment under preformed?????????? for the person that bought it.

 

[JIT]

Carrum Downs???

I drive here about a few times a year, and all I see is land, land, land.

Supply and demand people.

Maybe there´s not many 4 bedders for rent now, but potentially there could be much more if builders went that way, due to the supply of land.

Just from a drive-by perspective, too much land supply and I would think and too far from the CBD to represent good investment value in the medium-term, or even in the long-term. There will be some demand by some people to live here, but not enough I think to result in sustained/above average long-term growth.

If you hold long enough, of course, you could buy any property anywhere and it will have grown in value.

GSJ

 

[cava]

Several years ago I was speaking to one of the owners/developers of sandhurst golf club estate at carrum and he categorically stated that on a sq mtr basis, land was cheaper at Mount Eliza than carrum and carrum downs.

If I had to choose, Mount Eliza (where I live) is the better option and does not suffer from the usual cyclic highs and lows of the real estate market, as much as other suburbs.

cava

 

[A Jackson]

I have two IP's in Frankston, both purchased in the last 24 months.
1st is in Lakewood, 4 bedrooms returning 6.2%
2nd is Frankston South, 4 bedrooms returning 6%

Same tenants for the time I have owned them.

I think it’s a good area because of the new infrastructure being build. Two examples are the Eastlink project and the new $300 Million shopping centre.

Another issue raised today is a possible Frankston to Mount Martha Toll Free roadway.

From The Age Newspaper 18-10-06
A 22-KILOMETRE toll-free bypass would be built from Seaford to Mount Martha under a Liberal Party plan to ease traffic congestion in Melbourne's outer south-east.
Mr Baillieu said yesterday a Liberal government would spend $250 million to build the new road, amid growing fears that the adjoining EastLink tollway, scheduled to open in 2008, would compound congestion in the area.
"This (road) will mean time savings for the residents of Mornington Peninsula and Frankston, and it will mean enhancing the quality of the environment … for all of this region," Mr Baillieu said.


AJ