Is Frankston Going to Boom?
- Thread starter tristanvs
- Start date
In terms of parer street that's normal value.
For up minster hrmmm I think that's cheap but it may have structural dramas I'm not sure maybe a builder has bought it knowing that area is prime real estate for families
That general fratello's/mcdonalds area is an area where drug deals still go down to this very day. If you drive past you'll feel the Dandenong like vibe.
That said long term there's not much land close to the coast anymore within proximity of the cbd the demand could be huge in 10 years and if that's the case it will gentrify!
Both of these properties have been under quoted . the one in Minster has sold for 325k ( not worth that given its a small house on an irregular shaped block) the one on Parer they want over 340k
Here is another, they are quoting 350+ yet they have valued the property for the owner at 430-450 And the real estate agent had the nerve to tell me this, after wasting my time and viewing the property
http://www.realestate.com.au/property-house-vic-seaford-118042419
Hockingstuart are the kings of underquoting
They are playing the same under-quoting game with this property. It's priced close to $100,000 below its true worth. Frankston is a great investment destination. Pity about the useless, dodgy agents.
I have absolutely no doubt that Frankston is going to boom. It is a beautiful area with fresh clear air, birds, roads, and every convenience you could possibly need. The drive from Franga to the city/ airport is amazing. Once that station is dealt with there won't be much to carry on about. My tenants are friends with my ex tenant. They're filling the street with their friends so that their kids can play outside and they can have street parties.
There are a number of good quality cafes and restaurants. The gentrification has started.
Don't know when, but it will definitely happen.
There are a number of good quality cafes and restaurants. The gentrification has started.
Don't know when, but it will definitely happen.
WattleIdo, what are you best picks among what's for sale at the moment? I'm talking about capital gain opportunity rather than just having a nice house with nice street parties. Please share some insights.
I have kept away from this thread recently lest people think I'm a spruiker. Here are my two bits:
My thoughts are that anything under $350,000 in Frankston will see decent capital gain in the long run.
The smart money in Frankston is not buying units or overpriced beachside stuff, its concentrating on what many people consider to be 'junk' property. ie. old rentable brick houses on 600sqm blocks. Buy. Rent out for a few years. Then either redevelop or sell to a developer for a profit.
I urge all buyers to do their due diligence and never, never, never overpay. or put your trust in local agents who (in my experience) are often pretty dodgy and unreliable. If you are chasing capital gain, you would be wise to buy into the cheapest quartile of property. Forget about what the better streets or locales are.....just concentrate on price and rentability. Again, these are just my own personal views. Good luck to those who believe in the area.
Grand Dad and WattleIdo can you please suggest the sort of things currently for sale that would be on your own watchlist?
Council seems to be more generous giving out DAs in the worst parts of Frankston, notably those areas with jerry-built houses of timber or weatherboard. I think its part of their gentrification plan for the area.
I concur with Grand Dad vis a vis the cheap-end of the market having the best potential capital gain opportunity. Go in with your eyes open. Best to do your own due-diligence and do not listen to what I or anybody else says.
now im pretty straight down the line with most things and honest.
im going to be honest here but im SICK to death of hearing the same stats!
"dont over pay for a property". errrr wrong! when emotion gets involved your stuffed! LOCATION is more important than price cause thats what will give you your return!
300k/600sqm properties in frankston are finished! if you want that stuff go to frankston nth!
if you want good returns in frankston central frankston is where its at! development central! builders are buying in numbers! and there are stacks of reasons why!
the further you are away from frankston cbd the worse i believe cause most amenities are in the frankston cbd not karingal shopping centre.
yeah if your buying in frankston sth (apprently mt elisza nth LOL some tosser thought he was smart) where do you shop? morno? yeah 15 mins??? or you just shop in frankston cbd cause its close? yeah i thought so too!, remember we all take the least path of resistance.
Nick.
im going to be honest here but im SICK to death of hearing the same stats!
"dont over pay for a property". errrr wrong! when emotion gets involved your stuffed! LOCATION is more important than price cause thats what will give you your return!
300k/600sqm properties in frankston are finished! if you want that stuff go to frankston nth!
if you want good returns in frankston central frankston is where its at! development central! builders are buying in numbers! and there are stacks of reasons why!
the further you are away from frankston cbd the worse i believe cause most amenities are in the frankston cbd not karingal shopping centre.
yeah if your buying in frankston sth (apprently mt elisza nth LOL some tosser thought he was smart) where do you shop? morno? yeah 15 mins??? or you just shop in frankston cbd cause its close? yeah i thought so too!, remember we all take the least path of resistance.
Nick.
yes i did say that wattle. there are good pockets of frankston nth which are important to buy in i believe. but its only a certain area. everywhere else in there, yeah most likely pass on, karingal is good but you wont get a good return if your just want CG.
The area around the Karingal shopping centre is where the cheap, high-yielding gems are. These days $325,000-$350,000 for a house on a subdivisible block. At these kind of prices, there is room aplenty for capital gain.
Who says you cannot buy cheapies in Frankston?!
This is the textbook scenario I have been talking about: A cheap rentable house on a subdivisible block. Sold for $320,000. Should yield 5%. Given the low price, it is hard not to make decent capital gain over the long run.
http://house.ksou.cn/p.php?q=Frankston&sta=vic&id=468567
Bogans Moving Out + Redevelopment Opportunities + Asians Moving In = Capital Gain
This is the textbook scenario I have been talking about: A cheap rentable house on a subdivisible block. Sold for $320,000. Should yield 5%. Given the low price, it is hard not to make decent capital gain over the long run.
http://house.ksou.cn/p.php?q=Frankston&sta=vic&id=468567
Bogans Moving Out + Redevelopment Opportunities + Asians Moving In = Capital Gain
Errr nope there are still bargains close to Frankston CBD, I just signed on a house in Orwill st for 300k, on 663SQ metre of land, currently tenanted for 298 per week, I see that as a bargain....
I'd call that a bargain too. Instant capital gain. Tell us about your experiences with agents - are they un/helpful in helping clients secure bargains?
Aren't an agents clients the sellers of the property? What ever gave you the impression buyers are their clients? You bag out agents in other posts, yet you're wanting them to secure bargains for buyers and act against their clients best interests?!
