Is it time for Frankston?

[WattleIdo]

Karingal is a little too on the fringe for my liking but I don't mind this one http://www.realestate.com.au/property-house-vic-frankston-118107747

It's on a 844sqm subdividable block, near a station/other things and in the high school zone it's probably under-quoted though. Auction is today hopefully it goes cheap like most the other underquoted property's I've seen

Nice house and good area. Just keep in mind that the station isn't used much at this stage - one of the many things that a map won't tell you.
I got caught out on that one. Hopefully it will be set up for more commuter use later on.

 

[Peter Parker]

Nice house and good area. Just keep in mind that the station isn't used much at this stage - one of the many things that a map won't tell you.
I got caught out on that one. Hopefully it will be set up for more commuter use later on.

It's not that the station is lowly used that's the issue, it's more the reason why.

Whereas Frankston has trains to the city every 10 min 7 days/week, stations on the Stony Point line only have trains every 1 - 2 hours, and there's a need to change at Frankston.

This level of service makes the train as it stands now unimportant.

What you are betting on is that the train will be electrified to Baxter. Doing this would benefit those near Leawarra due to the one-seat ride and more frequent service. In addition there are even public consultations regarding a train station at Langwarrin.

 

[alicudi]

Hi

Yes a train station at Burdett's on McClelland Drive in Langwarrin would be very advantageous for the area.

However it would make a lot of Frankston cabbies upset!

Regards,

alicudi

 

[WattleIdo]

it would make a lot of Frankston cabbies upset!

There was a meeting just this Wednesday gone! Did you guys go?

 

[Lord Shanghai]

Karingal is a little too on the fringe for my liking but I don't mind this one http://www.realestate.com.au/property-house-vic-frankston-118107747

It's on a 844sqm subdividable block, near a station/other things and in the high school zone it's probably under-quoted though. Auction is today hopefully it goes cheap like most the other underquoted property's I've seen

Mr Market is always right. This one sold at auction for a lot more than the advertised price. $387,500, almost $50,000 above the agent's suggested price.

http://house.ksou.cn/p.php?q=Frankston&sta=vic&id=486874

An agent who is disloyal to the vendor is a good friend indeed if you are a buyer.

 

[WattleIdo]

I hope Lord Shanghai doesn't become robotic like GD did.

Houses going for more than they're advertised - I wonder if GD would be willing to admit they're not as cheap these days?

 

[athsaki]

I hope Lord Shanghai doesn't become robotic like GD did.

Houses going for more than they're advertised - I wonder if GD would be willing to admit they're not as cheap these days?

You are absolutely correct, houses are not as cheap as they use to be however, if you are willing to work at it and have patience you can still grab a bargain, it is still the cheapest bay side suburb in Australia. I do not believe it will hold that title for too much longer, in fact I am betting on it.

 

[Peter Parker]

You are absolutely correct, houses are not as cheap as they use to be however, if you are willing to work at it and have patience you can still grab a bargain, it is still the cheapest bay side suburb in Australia.

I suspect Seaford (the Adelaide one) is cheaper given the proximity to the water. Eg

http://www.realestate.com.au/property-house-sa-seaford-118243443

is walking distance to the beach and on the beach side of the main road.

(Frankston North is neither Frankston nor a genuine seaside suburb)

 

[TMNT]

I suspect Seaford (the Adelaide one) is cheaper given the proximity to the water. Eg

http://www.realestate.com.au/property-house-sa-seaford-118243443

is walking distance to the beach and on the beach side of the main road.

(Frankston North is neither Frankston nor a genuine seaside suburb)

i think athenaski was just exagerrating/emotionliasing the debate by using the term "cheapest" beachside suburb,

im sure there are like 100 suburbs where you can get a house basically on the water for even less, but they'd be in whoop whoop

but frankston wouldnt surprise me if it was the cheapest melbourne metro beachside suburb

 

[TMNT]

http://www.realestate.com.au/property-house-vic-frankston-118280235?rsf=emailalert-propdetails

This should be subdividable, a bit small though, good shape

will it go for $299k!! I doubt it

 

[WattleIdo]

Some of these photographers deserve an award!

 

[Lord Shanghai]

i think athenaski was just exagerrating/emotionliasing the debate by using the term "cheapest" beachside suburb,

Frankston is certainly the cheapest beachside suburb in Australia with decent infrastructure including a university campus and a teaching and major-surgery hospital. Granted, you wont win bragging rights by investing in Frankston. I'm in it for capital gain and nothing else. Bragging rights are for mugs.

 

[athsaki]

We can debate over Frankston until we are blue in the face, some will like the suburb others will not. All i know is over the last 10 years I have invested 1.3M in Frankston and in today's market if I were to sell everything up I would get over 4 Mil. for all the properties combined. From and investors point of view What is there not to like about Frankston

 

[JamesP]

I've started to think about Frankston from another perspective. We've lived in the south east for 17 years (Berwick) I'm not saying Frankston won't go up but the median price is currently not far below Berwick which is ridiculous, the median simply can't go above these suburbs. It's a dive in comparison (it doesn't even compare to Narre Warren for that matter), and the difference in infrastructure between the Pakenham Corridor and Frankston corridor is also beyond huge.

Area's in Frankston west of the peninsula freeway have shot up to 330k-350k that were around 250k only a couple years ago so the people who bought in these areas have done very well imo.

For the type of house in Frankston Heights for 380k to 450k you could get a far nicer middle class property in Berwick which although you can't subdivide yet, the quality between properties is huge! It's a far nicer area than Frankston South although not arguably as nice as Mt Eliza. But comparing it to the homes that make up 90% Frankston, Frankston North and Karingal etc isn't possible until you go as far as Tinks Rd.

http://house.ksou.cn/p.php?q=Berwick&sta=vic&id=433641 this is the lowest socioeconomic area in all of Berwick

http://house.ksou.cn/p.php?q=Berwic...&minprice=0&maxprice=450000&minbed=0&maxbed=0

For over 450k I would definitely try to afford west of the rail tracks/Frankston station before considering Berwick, but as far as Frankston Heights, North, inner CBD, Karingal go forget it for the 300k-350k those homes are currently going for you can buy a property in the Timbarra estate for that price!

Just adding my 2 cents

 

[Lord Shanghai]

It is important to compare apples with apples. Berwick is an inland suburb. Traditionally major-city seaside suburbs appreciate more than inland suburbs.

For over 450k

If you are chasing a pleasant PPOR walking distance to the sea, be prepared to pay this price.

But most Frankston investors on this forum are chasing capital gain rather than a beachside PPOR. For this reason alone, IMHO, the non-beachside areas of Frankston represent excellent value.

Athsaki has gotten some gems in the early $300s. Pretty hard to go wrong with those sorts of deals. These deals do not come up everyday. A bit of patience and sucking up to low-ball agents can help.

 

[athsaki]

I've started to think about Frankston from another perspective. We've lived in the south east for 17 years (Berwick) I'm not saying Frankston won't go up but the median price is currently not far below Berwick which is ridiculous, the median simply can't go above these suburbs. It's a dive in comparison (it doesn't even compare to Narre Warren for that matter), and the difference in infrastructure between the Pakenham Corridor and Frankston corridor is also beyond huge.

Area's in Frankston west of the peninsula freeway have shot up to 330k-350k that were around 250k only a couple years ago so the people who bought in these areas have done very well imo.

For the type of house in Frankston Heights for 380k to 450k you could get a far nicer middle class property in Berwick which although you can't subdivide yet, the quality between properties is huge! It's a far nicer area than Frankston South although not arguably as nice as Mt Eliza. But comparing it to the homes that make up 90% Frankston, Frankston North and Karingal etc isn't possible until you go as far as Tinks Rd.

http://house.ksou.cn/p.php?q=Berwick&sta=vic&id=433641 this is the lowest socioeconomic area in all of Berwick

http://house.ksou.cn/p.php?q=Berwic...&minprice=0&maxprice=450000&minbed=0&maxbed=0

For over 450k I would definitely try to afford west of the rail tracks/Frankston station before considering Berwick, but as far as Frankston Heights, North, inner CBD, Karingal go forget it for the 300k-350k those homes are currently going for you can buy a property in the Timbarra estate for that price!

Just adding my 2 cents

Hi James
You are talking about buying a house to live in I am talking about buying a house for an investment, you really cant compare Berwick to Frankston , one is a beach side suburb the other is not. That would be like me comparing Patterson lakes (where I live) to Ivanhoe and say Patterson lakes is better,

 

[alicudi]

Hi James
That would be like me comparing Patterson lakes (where I live) to Ivanhoe and say Patterson lakes is better,

Hello Neighbour!

Regards,

alicudi

 

[pieman]

Berwick compared to frankston- no brainer. Berwicks an ugly outer suburb with a 2 hour commute if you miss the train, frankston has its ugly parts but has the bay and upside and Oliver's hill precinct which berwick has no comparison.
Berwick not so much

 

[Peter Parker]

Berwick compared to frankston- no brainer. Berwicks an ugly outer suburb with a 2 hour commute if you miss the train, frankston has its ugly parts but has the bay and upside and Oliver's hill precinct which berwick has no comparison.
Berwick not so much

You're not being fair to Berwick. There's Old Berwick and new Berwick. Berwick has express trains all day, whereas Frankston only has them during the peak periods. As for the aesthetics, compare the following streetscapes (both near the station).

Here's the walk to Berwick Station (Gloucester St): https://www.google.com.au/maps/plac...1s0x6ad61a25d5771ae5:0x1d04567609f51810?hl=en

Here's the walk to Frankston Station: https://www.google.com.au/maps/@-38...m2!1saLJf_0LJIKfX7Y3k7Zjk1Q!2e0!6m1!1e1?hl=en

 

[Lord Shanghai]

$277,000 for a rentable old house on a dual occ block. Someone got a bargain. Only in Frankston! This should yield close to 6% so it would possibly be cash flow positive.

http://house.ksou.cn/p.php?q=Frankston&sta=vic&id=501439

It pays to be patient. There ARE bargains to be had for those who woo agents who are disloyal to vendors.

Agents who don't give a toss about their clients are definitely a buyer's friend.

Here's another goodie that could be a great PPOR, complete with pool and dual occ block. Wouldn't be so good for tenants as looking after a pool is a big drama. http://house.ksou.cn/p.php?q=Frankston&sta=vic&id=501437