Is it time for Frankston?

Cadence.

Yes I do live in the area and I do love it. Originally a seaford boy but. My house is rented out ATM I do follow the market closely. I also go to the tafe there too
What do I think of frankston north? That question has been asked to many I'd say about 40 times. And the answer is it's definitely had money spent on it,


The demographic has changed a lot in frankston north and the best part to buy in frankston north is between ballarto road and excelsior drive. Buy in there and your into something good. Elsewhere I'd wouldn't really bother.
The reason why I like frankston central so much is the one word. Amenities. You have a lot of options from where you are as like frankston south you don't. If you want the **** factor of the south hey live there. But if you want pure growth and future development Central is my tick by far!

Demographic hasn't changed

Most normal people that buy there just buy for investment
I know someone that bought there who grew up in carrum , said they would not live there
Pure investment , you know a suburb is rough when someone from carrum wouldn't live there

It will change
But it hasn't yet

House prices always lead change though
Gentrification lags
 
Well if you want something cheap maybe your best bet is frankston nth then cadence. Having said that dont expect good rent but. About 260-270 is about average
 
If i was spruiking frankston cadance id be pretty well be blocked by now. But what im explaining is the fact people are wanting to know what areas to buy in for with yield or CG. This is my opinion based on what i know and have seen. Take it with a grain of salt if you will. You call bud :) only trying to help
 
Hey neeko
I didn't think you were spruiking franga
I did some research about it before i bought earlier in the year on and off this forum
I think your comments are factual
I thought I over offered on mine at the time but looking at the listings over the last few months I also feel the prices appear to have gone up

I was also looking at some regional options. But they were all starting to edge closer to franga North price range. I personally think fnth should have better cg prospects in long run and I prefer to hold my ips closer together so I can use the same property manager. But agree I should focus on picking something in the good pockets ... Feel like fnth has moved at least 10-15pc possibly upto 20pc in last 10 months ... Wish I jumped in earlier!
 
Everything in Frankston is extremely overpriced for what it is currently. ]

The spruikers will have you believe that the high end of Frankston is good value. Although breaking even is easy enough, it will be hard to make serious money if you go down that path.

As GD et al would say, the best value lies in the low end of Frankston. There are still plenty of old houses that are selling sub $350,000.

Much-maligned Frankston North looks very attractive at sub $300,000 prices, bogans and all. It's not for everybody and I would not want to live there. However, the capital gain prospects are compelling.
 
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Cassandra i agree sub 350k is good value for frankston
i also personally wouldnt pay more as at higher prices other suburbs become more compelling

f nth imho will be like mt druitt postcode in sydney it will go up eventually but probably the last to move due to reputation and demographic, fine if you plan to hold long term
 
Cassandra i agree sub 350k is good value for frankston
i also personally wouldnt pay more as at higher prices other suburbs become more compelling

Cadence can I ask which other suburbs you think are better value than Frankston at 400k? I really can't think off anything that has close beach proximity, railway station on hand and money being invested into it.

Just wondering what suburbs you have in mind as I am thinking about an IP purchase and was thinking Frankston (I know this one is going to be long term).

I do like the SE suburbs close to the beach has some nice shops etc. I am starting to wonder what does a suburb like Wheelers Hill (higher median) have to offer over suburbs along the Bay?
 
Cadence can I ask which other suburbs you think are better value than Frankston at 400k? I really can't think off anything that has close beach proximity, railway station on hand and money being invested into it.

Just wondering what suburbs you have in mind as I am thinking about an IP purchase and was thinking Frankston (I know this one is going to be long term).

I do like the SE suburbs close to the beach has some nice shops etc. I am starting to wonder what does a suburb like Wheelers Hill (higher median) have to offer over suburbs along the Bay?

Doveton, Dandenong, Noble Park etc. None of them really, if I was going for capital growth I'd probably settle with Noble Park or Dandenong maybe Ferntree Gully. For growth Sunshine or reservoir area's. The outer south east has been stagnant for years, it's too far out and full of endless estates.

I've always believed Narre Warren is a far superior suburb to Frankston, no beach but not a lower socioeconomic area. Apples and oranges really. But Narre Warren did grow 12% these last 6-12 months which would verify my belief, Frankston hasn't seen double digit growth in a while.

Remember Frankston is a step or two below, and in the likes of Noble/Doveton/Dandenong when it comes to suburb quality. The neighbourhoods/homes all need to be knocked down, crime lowered, and the nature strips weeded for the average person to be able to live there. The place is cosmetically off to me and extremely congested of traffic (not many roads), the beach wouldn't motivate me unless it was within 600m, and anything between the shore and creek (gould st) is well over a million already for a decent sized home.

I admit it does look like good value but I remember it's been that way for the last 15 years... ever since the eastlink was announced :D
 
Hi Zos

Given I have bought in Frankston, I'm obviously biased. I'm also not from Melbourne and still haven't been to Frankston. My understanding of the Melb property market is based on a couple stays in the CBD and desktop research / dd. So you probably should take my comments with a grain of salt and dilute it down with some ocean water from Frankston beach :p

I had a budget of $350k at the start of the year. At that time, Frankston was really a no brainer as my partner would call it. Where else within 45min of a major CBD in Aus can you get a house on 600sqm+, relatively close to the beach, access to trains and freeway, hospitals, shopping centre, and right next door to a suburb with significantly higher median (F Sth).

I looked at regional options too, but at the $350k mark Frankston is more compelling for me personally.

My immediate response to where else for $400k would be Seaford, Frankston Nth for a house. Seaford sounds nicer than Frankston and there are still a couple houses around $400k mark if you're quick. F Nth you can buy something for early $300k - at > 20% discount entry now, it should work out ok in the long term esp if you pick a good pocket. As demand for Frankston grows (whether it's due to affordability, gentrification etc), F nth will follow. It's the dominoes effect. Yes it might take a looooong time but it will happen eventually.

I would also consider 2br units as close to Melb CBD as possible on a train line. If my experience in Sydney is anything to go by, it can work out very well from CG and CF (better yield) perspectives.

I managed to get in at $350k but I agree with fellow SS'ers that the market has moved a little, so if I was looking now I may need to increase budget to $400k. $50k is not a huge game changer, esp when you plan to hold long term. It will cost you $10k (20%) now which is relatively modest in property.

I don't know if this post will put me into the category of a Frankston spruiker ... I'm not arrogant enough to think my 2c could spruike a market as big as Fston! I just want to share my own personal view which I'm sure everyone will vet themselves. It doesn't really bother me what other people do. If people starts to take notice and buys in the area and drives up the price, great stuff. If noone else is interested that's fine for me too because I'll be able to buy again at the low price point. To me the area has enough fundamentals to fit my buying criteria, so I don't tend to over analyse too much esp when it's a long term hold.

If you do buy in Frankston and need a property manager, drop me a message I would highly recommend the lady I'm using now.

All the best with your search :D
 
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