Is it time for Frankston?

At a glance...
http://www.realestate.com.au/property-house-vic-frankston south-115629903

http://www.realestate.com.au/property-house-vic-frankston-115385695

http://www.realestate.com.au/property-house-vic-frankston south-114105611

http://www.realestate.com.au/property-house-vic-frankston-113303599

http://www.realestate.com.au/property-house-vic-frankston-115659207

http://www.realestate.com.au/property-house-vic-frankston-115538299

http://www.realestate.com.au/property-house-vic-frankston-115492751

I agree that you'll have a better chance finding bigger properties on the other side of the freeway. There are still plenty of options closer to the water.

edit: It is still recommended, in my opinion, to wait for properties that meet the criteria which will lead to better demand rather than going further East into an area where there is a lot more of the same stock...

Scarcity is important. Finding a property that's sub-$400, +600 sqm close to the beach is by no means impossible.
 
C'mon Jake. I've just checked your links above, they're either the 'wrong side' of the tracks or in Frankston South.

Have a re-read of exactly what you posted. I think it's incorrect and inaccurate and shows you don't know the area at all.
 
Jake Milne said:
At a glance...
http://www.realestate.com.au/property-house-vic-frankston south-115629903

http://www.realestate.com.au/property-house-vic-frankston-115385695

http://www.realestate.com.au/property-house-vic-frankston south-114105611

http://www.realestate.com.au/property-house-vic-frankston-113303599

http://www.realestate.com.au/property-house-vic-frankston-115659207

http://www.realestate.com.au/property-house-vic-frankston-115538299

http://www.realestate.com.au/property-house-vic-frankston-115492751

I agree that you'll have a better chance finding bigger properties on the other side of the freeway. There are still plenty of options closer to the water.

edit: It is still recommended, in my opinion, to wait for properties that meet the criteria which will lead to better demand rather than going further East into an area where there is a lot more of the same stock...

Scarcity is important. Finding a property that's sub-$400, +600 sqm close to the beach is by no means impossible.
Click to expand...

None of these are on the 'right' side of the tracks in Frankston. They're all either on the 'wrong' side or are located past the end of the metro train line where the train turns diesel and goes inland along the Stony Point line. It's easy to be on the 'right' side of the tracks when you've completely changed the tracks that you were using a measure.

Half of these are in Frankston South and whilst there's nothing wrong with investing in Frankston South, it isn't exactly relevant to properties in Franskton located between the tracks and the beach.
 
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Okay guys, appreciate your feedback; and you're right I did pluck listings quickly, without properly qualifying them :)

I'm not disagreeing with the fact that it is easier to find bigger cheaper blocks further away from the water. That being said I've bought properties in Frankston that fit the bill. There are properties that fit if that's what you're looking for.

As per Frankston South; it has a median of $525,500 whereas Frankston is at $356,000. One could assume that FT South is a nicer suburb based on price alone.

Also, I've literally have just spent a week in Frankston, Seaford and Edithvale over the xmas break, which was lovely, albeit the weather could have been better at the beach. I guess I must be extremely unfamiliar with the area though. It's clear that there is a complete lack of understanding from the information contributed ...sorry.
 
Jake Milne said:
Going to disagree slightly here with Grand dad (sorry) in that investors should look primarily on the Beach side of the train tracks.

It doesn't have to be beach-front as those properties are in a completely different price league but close enough to be 10-15 mins walking distance is good as large bodies of water almost always increase capital growth.

Again though, the strategy here shouldn't be buy and hold and as Grand dad said, if you can find a good sized parcel with nice margins for development feel free to look in other pockets of the suburb.
Click to expand...

Thanks for the response
 
Depending on your strategy Left or right of the freeway can be important,

basically, the zoning is all pretty standard res 1 for most of the areas, over time, who knows how long, 3 years, 20 years, infinite years, the left side of the freeway will become medium or high density,
thats where the prices in the area will rise,

at present the price difference on the left and right is not very big, but this may change in the future, there are a few people who have banked on that.

the left side of the fwy, especially the golden triangle are seen as desirable, I remember a 600-700 sqm block on lawson st (I think it was)in 2009 with an ok house on it sold for $400k,

as for south, if you can get a property in the south at central prices, then I say go for it! frankston south is seen as far more desirable, some of the houses are beaufitul, in fact I would move there in a second if I could get 50% off and had to live there, some are castles,

obviously the closer you get to gould st, the more the prices go up,

jakes examples, a few of them were pretty are pretty good, $320k for 600sqm to the left of the freeway, isnt too bad,
if you can get one for $280k in todays market, you are pretty set,

the only problem with the left of the fwy is that, depending on where it is, it can be busy, there are train lines, you are near the fway, there is a cemetary near burns st etc. etc.

also, with blocks that are below 600sqm, eg even 595sqm, often you need permits and DA to subdivide the block in to sub 300sqm blocks and the council apparently dont approve it that easily, above 600sqm, its far easier, whether they have eased up on that recently, I have no idea, but definitely I would stay above 600sqm

Jakes example of 15 Clarendon Street Frankston Vic 3199
is quite interesting, good sized block, not sure if you can use the footpath as a dual frontage , unfortuantely its close to the train lines, but the sound will be blocked out once next door starts to build
 
grand dad said:
Warren Buffett once said that he made his best gains by buying stocks that "informed analysts" ignore. Such is the logic with Frankston. It's lagged behind so long there's only one direction it can move - up. Its catch-up time, for sure, particularly for the cheap-end of the local Frankston/Seaford market.
Click to expand...

He also said: "It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price." There's a Buffett quote for every occasion...
 
4 bedroom, brick, property that was on +600sqm and 15 mins walk to beach in Friswell Place passed in at auction in August 2012. Then bought for $387,500.

I saw one sell on Kars Street that needed a lot of work - $360,000 on +670sqm in May 2013.

Confident that if you went on Realestate.com.au you could find dozens of properties that have sold in the last few years.

Simtr perhaps you could help and explain to the forum on where you're drawing your experience from with Frankston?
Do you own properties there?
How have they performed?
 
Jake Milne said:
4 bedroom, brick, property that was on +600sqm and 15 mins walk to beach in Friswell Place passed in at auction in August 2012. Then bought for $387,500.

I saw one sell on Kars Street that needed a lot of work - $360,000 on +670sqm in May 2013.

Confident that if you went on Realestate.com.au you could find dozens of properties that have sold in the last few years.

Simtr perhaps you could help and explain to the forum on where you're drawing your experience from with Frankston?
Do you own properties there?
How have they performed?
Click to expand...

Thanks, I'll help you out.

Friswell, assume this is the property?

http://www.realestate.com.au/property-house-vic-frankston-111167435

Cant say I agree with this being a 'couple' of streets from the beach and also over 12 months ago. I will grant that it loosely fits your expert guidelines. It is only 3BR though, sure hope you checked that out closely when you bought it for your client. I think it would be a good buy if that was your strategy at the time.

Kars St, is this the one?

http://www.realestate.com.au/property-residential+land-vic-frankston-200559663

Looks and was even advertised as residential land, as it's advertised as derelict and required demolition.

As for me? I do agree with what Truly Exotic posted and it's one of the best posts in this thread, obviously someone with a handle on the area.

I spent about 6 months on the area in 2012 and purchased one property late 2012 which has gone up by 9%.

Certainly not saying some of your examples are not good purchases, just refuting the fact you can buy a couple of streets from the beach for $300-400k, that would be a good thing to sprout if you're trying to drum up business though.
 
simtr said:
I spent about 6 months on the area in 2012 and purchased one property late 2012 which has gone up by 9%.

Certainly not saying some of your examples are not good purchases, just refuting the fact you can buy a couple of streets from the beach for $300-400k, that would be a good thing to sprout if you're trying to drum up business though.
Click to expand...

Thanks simtr :) Friswell is being used as a 4 bedroom. The lounge was converted into the main bedroom and the hallway cupboard was reversed. It's 15mins walk from the beach as one can cut through a small nature strip/reserve on foot. This type of property was exactly what I was describing and I'm not sure why you're still refuting a solid example; I'm sorry for your misunderstanding.

Kars Street would have been fine to renovate for a "nathan birch" style investor. The property needed a lot of work. The location was good and the parcel was large and at mid 300s it was a good buy.

9% is impressive, that's 2% above the 10 year average and 3% above last years average growth, what kind of property is it? I'm really happy for you that's an excellent return.

Also there's no need to be passive aggressive, I'm not here to drum up business in Frankston. I'm sure you can appreciate, as you've provided some content, that sometimes it's just nice to help people out with the information you've learned.

I appreciate your difference of opinion... Again, I'm confused as how you can still "refute" what I've been saying this whole time, it's oddly stubborn.
 
I bought my house in frankston a couple of years ago for 320 its now worth 370 and only a street away from simtrs property and ibthought that was quite good ive only spend 20k on it for renos.
 
Well it's been a week on the market and have just received a contract for a good price. One more open to see if anyobe else's keen before I sign on. We had 7 contracts go out for it last week so it seems things are heating up
 
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