Is it time for Frankston?

I congratulate you on your acquisition and wish you well. Can you confirm the price you paid? According to the occasionally inaccurate ksou/RP ddata, it sold for $490,000. http://house.ksou.cn/p.php?q=105A+K...ia&sta=&lat=-38.159883&lng=145.11610300000007



What you say is partly true. Compared to a year ago, there are fewer outrageously cheap give-away situations for sale. As for the beachside of Seaford - it's out of my range. I only buy on the cheap-end of the market. Just the same, I strongly believe that anyone buying into the lowest price quartile of Frankston property should see decent capital gain in the long run, not to mention yields approaching 5%.

Grandad if you know of any such properties that will give me a 5% return on rental + cheap to purchase , please let me know I cant seem to find one within that criteria, its either high return or high capital gains growth one or the other not both at the same time.
 
You will find Frankston agents to be mostly incompetent - the majority are paupers and, despite having low-net worth, seem keen overly keen to dispense what they see as 'advice." I know of only one agent in Frankston who owns an IP - the rest mostly rent and don't have two pennies to rub together.

The "good thing" - if you could call it that - is these same commission-hungry agents who sometimes discount the worth of a property. Get along with one of these types and he/she may well find a few bargains for you.

Could yo tell me who the one agent you mention is?
 
Could yo tell me who the one agent you mention is?

I am working with this particular individual in order to source more bargains.

Hint: the firm to consistently achieve the lowest sales prices in Frankston seems to be Ray White. They seem very effective in reducing owners expectations. Might be worth giving them a call if you are a buy-side person. But if you are selling, give them a wide berth!
 
I am pro frankston as well but its not going to boom in the short to medium term,

it will rise as per the rest of the state and surrounds, so if you do buy now, you should get decent average growth,

but I hope im wrong even though I dont own in there

maybe in 20 years we will all be saying "damn, who would have thought you could have bought a beachside suburb in melb for half the median price, I should have bought as many as I could back then!"
 
a beachside suburb in melb

Frankston is developing into a satellite city with its own CBD - in time it will be seen as more of a central CBD hub for the south eastern bayside suburbs rather than a Melbourne suburb.

The Deagues have moved into the area with the redevelopment of the Peninsula Centre - the transformation of this building is a good example of what can come ahead.

Frankston is positioned to become a very successful example of a satellite city and with its position and infrastructure is able to service a good part of the wider bayside areas.
 
i'll 2nd that.
i was a teenager in the 90s in frangers and went back - honestly the town centre has minimal or not much difference to back then

I was a teenager in Frankston Nth in the 70's.

The North has just not really changed in all those years excepting the pulling down of my old high school. I don't see much attracting me to it - not even the cheapish prices.

Frankston Central has changed much more since the 70's.
I remember Waltons & Myer being the only thing in town!
The CBD & beachside changes of the last decade (especially) are heading in the right direction so I feel it has great potential.
 
Just having a look on domain at frankston north and places on 650 blocks are listed for under 300k. I am from melbournes west so know very little about frankton but for even the bad rep these prices still seem incredible low for a potential development site?

Are these sites selling for more? And could someone give me some insight as to just how different the north is from central and south?
 
Just having a look on domain at frankston north and places on 650 blocks are listed for under 300k. I am from melbournes west so know very little about frankton but for even the bad rep these prices still seem incredible low for a potential development site?

Are these sites selling for more? And could someone give me some insight as to just how different the north is from central and south?

Actually, its possible to get dual occ sites in Frankston North for around $250,000 if you look hard enough. In Frankston itself, you can do the same for $300,000-$350,000.

As for crime - the crime rate in Frankston is below that of innercity Melb. Yes, there are a few bogans around, but they are gradually moving out as rents are skyrocketing.

I am a retiree and have worked as a valuer. My entire Super has been invested in Frankston. Enough said. I'd go on for ages but people would deem me a spruiker if I did.

*Warning* I'm not advising anyone to pay pie-in-the-sky prices for property in Frankston or anywhere else. If you overpay, your eventual capital gain will be a lot less. Open your eyes, do your homework - it's not rocket science; Frankston is one of Australia's cheapest beachside suburbs.
 
Actually, its possible to get dual occ sites in Frankston North for around $250,000 if you look hard enough. In Frankston itself, you can do the same for $300,000-$350,000.

As for crime - the crime rate in Frankston is below that of innercity Melb. Yes, there are a few bogans around, but they are gradually moving out as rents are skyrocketing.

I am a retiree and have worked as a valuer. My entire Super has been invested in Frankston. Enough said. I'd go on for ages but people would deem me a spruiker if I did.

*Warning* I'm not advising anyone to pay pie-in-the-sky prices for property in Frankston or anywhere else. If you overpay, your eventual capital gain will be a lot less. Open your eyes, do your homework - it's not rocket science; Frankston is one of Australia's cheapest beachside suburbs.

Hi GD,

where are the rents sky rocketing? Mine aren't. :(
 
Where do you think they are moving to? Didn't think there would be a cheaper place to rent.

Rents for 3br houses (from re.com)

Frankston North - start from $250 pw

Hastings - start from $250 pw

Cranbourne - start from $260 pw

Really doesn't seem to be a lot of difference in rent between these places.

And a $20 pw difference in rent won't be enough to force a move given moving costs.

For substantially cheaper rent you'd need to be moving to the likes of Moe or Seymour (where a 3br house can be rented for $200 pw).
 
As for crime - the crime rate in Frankston is below that of innercity Melb. Yes, there are a few bogans around, but they are gradually moving out as rents are skyrocketing.

Lets take your quote in bold, of course the CBD has more crime. Have a look at how many people travel to it every day and NIGHT. It's an absolute no brainer. Now please, you stopped the spruik about the crazy sub division figures when you were called out on it, how about you stop this one too?
 
Lets take your quote in bold, of course the CBD has more crime. Have a look at how many people travel to it every day and NIGHT. It's an absolute no brainer. Now please, you stopped the spruik about the crazy sub division figures when you were called out on it, how about you stop this one too?

You work in real estate, don't you?

Not sure of your academic background but you might need to study Statistics 101 or Criminology 201 at Uni to understand how crime figures are calculated. Crime is calculated per 100,000 residents. Try this link so you get the concept of how crime stats can be compared and used. http://www.bairanalytics.com/community/blog/how-to-calculate-crime-rate-2/

Based on the per 100,000 figure, the numbers for Frankston are surprisingly lower than that of many Melbourne's supposedly nicer suburbs. Well, thats what Vic Pol says. The Aust Bureau of Stats does not put out much data about crime so I guess we have no choice but to rely on Police data.

About the sub-division figures - I too had my doubts. Perhaps you ought to call the VGOs office yourself for confirmation? I did. Got shuffled around for almost an hour but was finally told what GD had mentioned here.
 
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