FTB seeking opinions on Regional VIC, up to 50km from Melbourne?

Discussion in 'Where to Buy' started by Eeevie, 20th Dec, 2012.

  1. Eeevie

    Eeevie Member

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    We've been procrastinating for far too long and think we should make 2013 the year to buy our first home.

    My husband and I would be willing to spend up to/around 300K, perhaps more, and are open to feedback on areas you might recommend.

    We're looking for somewhere regional, up to 50km out of Melbourne, by bush or sea...

    I'd be keen too read your opinions on such places (and their surrounds) as Cranbourne, Seaford, Frankston, Officer, Pakenham, Lyndhurst, Diggers Rest, Lara, and anywhere else you might suggest.

    (I've family in South Gippsland, so I've noted a few places along the way - I'm keen to get your two cents worth on these, given the reputations of some).

    Thanks in advance!
     
  2. Tillie

    Tillie Member

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    South Gippsland way... What about villages in Bass Coast near Westerport Bay towards Phillip Island? Grantville, Corinella, Coronet Bay, Bass... About 30 min. Drive to Melbourne Sth eastern suburbs, sleepy villages with both permanent and holiday homes, beach lifestyle, properties near water are still very affordable and within your budget. Also you could buy a land and built your own home. However distance is definitely more than 50 km from CBD.
     
  3. DaveM

    DaveM KFC Buyers Agent

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    Since when is "regional" within 50km of a major state capital? :)
     
  4. Jake Milne

    Jake Milne Buyer's Agent (Vic)

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    Beaumaris units this year have had very good growth... 32% in fact.
     
  5. Bigtone

    Bigtone Member

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    there is no way in the world Beaumaris units have increased by 32% this year.

    I hate property stats for this reason, they are just so wrong nearly all the time especially the short term stuff and in small markets where they are so easily distorted.

    They are very dangerous to the naive who act and in some somes don't act due to this misinformation.

    Anyway rant over and back to the original topic, I would buy with a budget just over $300k a run down house on land in Seaford or Frankston, do it up slowy over time and you will have good growth and can use that to leapfrog into something better in a few years.
     
  6. bbmick

    bbmick Retired from the Rat Race

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    I would call all these places metro as well.

    Do you have kids as well?
    Where do you guys work - city or outer south?

    I personally live a little more south (actually near Tooradin) and reckon it's heaps better than in the big smoke (Cranny etc) and only about 100mts from Westernport's edge.

    I am semi-retired now, but use to travel into Nunawading every day for work - bit of a drive, but didn't mind it since I was coming home to this place.

    Most facilities are close-ish or max 10-15 mins away (Cranny) and the urban sprawl is coming towards us at a great rate of knots, so the future looks good.

    I would look at Tooradin, Blind Bight, Warneet, Cannons Creek or even Koo Wee Rup - assuming this is all for a PPOR of course.
     
  7. Jake Milne

    Jake Milne Buyer's Agent (Vic)

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    Whilst I agree with your point about distortion, and think that stats are easily manipulated, varying greatly across different data providers they're unfortunately the only measurement of price we have.

    Would be interested to hear how you selected Frankston and Seaford... Are their any stats to back up your advice or is it just a feeling?
     
  8. Bigtone

    Bigtone Member

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    what stats would satisfy your requirements?

    would u invest in any area that actually had 32% growth the year before?
     
  9. Jake Milne

    Jake Milne Buyer's Agent (Vic)

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    It doesn't have to be stats, I was just wondering as to how you came to the conclusion that Frankston is a good place to buy and if there were stats involved?

    I really don't mind if you don't want to tell us the way you select but I like learning about other's selection techniques so if you're happy to share I'll listen :)

    If an area had 32% growth, and that trend showed indications of continuation then sure, I'd jump on and ride the wave.

    Is Beaumaris going to continue this growth?
    I don't know, haven't done any homework on it, but if a stat says 32% perhaps it's worth a look. I wasn't suggesting to buy there but it was worth throwing in a hook for others to look at.
     
  10. Jake Milne

    Jake Milne Buyer's Agent (Vic)

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    [side tracked]

    For me, when selecting property I start big and work down.

    Stats have to be cross referenced with alternate sources and fundamentals need to be investigated from multiple levels and angles.

    An example of this is adding up the long term trends from 3 sources such as residex, rp data and APM and then averaging those trends out to give a broader opinion.

    Alternatively finding out what projects are being conducted on a federal, state, local government basis, in any given area and then cross referencing those with the private sectors involvement.

    To help those looking to invest find that info I've posted a new thread called:

    "Information Sources used by a BA" here - http://somersoft.com/forums/showthread.php?p=981233#post981233
     
  11. strongy1986

    strongy1986 Member

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    Not sure Beaumaris is considered a regional!

    Also on the apartment stats I would say that is unreliable. I would say not even 1% of housing in Beaumaris is units which in a way does bode well for capital gain due to scarcity but it doesn't come with the lifestyle most unit dwellers are after

    Beaumaris for future capital gains? Not sure but it's been hammered the last year or two. Yields are terrible, you can rent a million dollar property for about $500 a week.

    I agree with big tone, would be a bit cautious about seaford but every know and then you see a bargain along beach road ( sub 500)

    Anyway back to the point at hand, for me cannons creek and warneet are s bit isolated, blind bight is a bit better - they at least could have a pub!

    Its a pity none of these places have good beaches.

    Grantville and the like are too far from Melbourne I reckon for work but people still do it but once again beach is a mud flat.

    what are you looking for lifestyle wise
     
  12. S.T

    S.T Member

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    Beaumaris for circa 300k? Dreamin'!

    Out of the list from the OP, I'd go Seaford, Frankston also. Plenty of range (more so Frankston) for 300k.

    Peninsula Link opening, new Aquatic Cerntre should all bode well for the area. I think Seaford is getting a Macca's too!
     
  13. strongy1986

    strongy1986 Member

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    There is a 2 apartment on beach rd up for sale for 400
    It's been for sale for well over a year I reckon. 350 would probably jag it.

    anyway agreed way off topic

    Not sure McDonalds is a good thing
     
  14. TurkieSub

    TurkieSub Member

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    Alright, I've had a very small amount of experience in these areas.

    Frankston (where my PPOR resides) and Seaford in my eyes, still really good buys if you find a bargain, and find a spot near the electric rail.

    I lived in Coronet Bay at my bosses house for a year, and its been on the market for sale for a little while. There isn't a great deal there. The beach isn't even really swimmable. Since the Desal has finished, it has quietened down alot. San Remo has had alot of waterfront properties come through in the last year, quite cheap. Could be an idea?

    A friend of mine lives in Cranbourne. I look at it as too risky, still with bargain basement deals with all the cheap land that is still about.

    Korumburra has had a few cheap places, if the vacancy rate is low, could be a decent return?

    Regards
     
  15. Eeevie

    Eeevie Member

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    I'm not quite up to scratch when it comes to telling metro from regional - Melbourne's expanding far too quickly for me!

    No kids, and we're each working casual roles so looking to find FT work nearer/in our eventual short-listed suburbs.

    Thanks for the tips - Koo Wee Rup is pleasant, as are its surrounds - it'll go on my list. :)
     
  16. Eeevie

    Eeevie Member

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    Yes, I think being near a rail line would be advantageous. I wondered if Frankston's reputation for being rough had bled into Seaford but it doesn't sound as though it has. [That said, I've heard nothing too ghastly about Frankston in years.]

    Coronet Bay seems a little far out but, then again, I've heard good things about it. Might be worth exploring a little further out than I first planned. San Remo's nearer still and not something I'd even thought of! Will definitely have a look there, too. Many thanks for the suggestions!
     
  17. Eeevie

    Eeevie Member

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    Cheer!

    Thanks for all the suggestions and assistance, all. This is all very new to me so I appreciate the help.
     
  18. The Y-man

    The Y-man Member

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    Try catching a cab from the city back home..... :D

    The Y-man
     
  19. strongy1986

    strongy1986 Member

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    Eevie where are you from? San remo is further out than coronet bay. If you want to work then I suggest mornington penInsula. Dromana is best value for money

    Also regarding frankston violence going into seaford... Might want to go have a good look but a lot of the bad areas are frankston north/ kannanook (seaford).

    Seaford will be ok in time but don't think that it's downfalls are because of frankston.
     
  20. TurkieSub

    TurkieSub Member

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    Frankston has been alot better since moving the chemist away from the station