Is it time for Frankston?

I think you did the right thing and took the plunge with Frankston. I am surprised it has been so slow to move compared to the rest of the suburbs. But then again it can't go anywhere else but up from here. How fast who knows bit if in the long term game then I think it will be okay.

Frankston has a lot more going for it than seaford in my opinion not much infrastructure in Seaford.

I was myself looking to buy in frankston south late last year for a ppor. We ended up buying in Aspendale gardens. I love this place and have been told by a couple real estate agents that it should do real well in the next 5 or so years.

We have some extra cash that we could invest now and Frankston does tick all those boxes. Just depends how long it will take to get rid of the stigma.

I worked on the south east water head office build. So walking through frankston every day. Yes you could tell it was rough, saw things I have not seen anywhere else really.
 
cadence said:
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.
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Seaford is a funny beast - it's a large suburb with many different pockets.

The best location is around Seaford Station or Nepean Hwy.

The worst location is between Kananook Station and Frankston - Dandenong Rd where it's similarly located to Frankston North but with better housing stock.

Overall, a good part of Seaford is better than most parts of Frankston, but I'd pick Frankston central (within 10 min walk to the station) as being superior to the Frankston North side of Seaford.
 
cadence said:
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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Nice summary Cadence
 
My rental in Frankston was advertised on Wednesday when the old tenants moved out. First open for inspection on Saturday and I had three applicants, all worthy of handing them the keys. $350 p/w for a 3 bedder in average condition.

It certainly went pretty quickly this time around, a lot quicker than the last time it was up for rent and let's just say the applicants are hmmm, more "refined". Tenants moved from Oakleigh for a bit of a sea change.

Frankston is definitely going in the right direction for sure. Won't be long before it'll be a $1M dollar suburb in my opinion. Beach, schools, shopping, freeway, not that far from city...and Government investment.
 
My tenant is building a deck! Have told him not to do this sort of thing again. At the same time I think this will add value. No skin off my nose.
Anyone know where I can get a skillion carport? Strong but affordable? Tenant may be able to put it together....
 
Bludger thats fantastic re tenants and rent! Onwards and upwards :D

Wattleido im also looking for a cheap carport option :D

Mine doesnt have any on site parking at the moment. Have a cross over and a driveway, planning to chuck a double carport at the end of it.

Have you got council approval for yours yet?
 
cadence said:
Bludger thats fantastic re tenants and rent! Onwards and upwards :D

Wattleido im also looking for a cheap carport option :D

Mine doesnt have any on site parking at the moment. Have a cross over and a driveway, planning to chuck a double carport at the end of it.

Have you got council approval for yours yet?
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Already have double carport but it's on its last legs. Will let you know what I find. No need to go overboard but a prized feature I think.
 
69 grimwade cresent sold for 395k 3 bedder. (March) sorry all for late info. Couldn't find a thing about it until now
 
neeko said:
I would of thought be part of seaford is the carrum end. Or the golden mile....
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Which Golden Mile are you referring to? Seaford's Golden Mile is consistently referred to as Fortescue Ave and Kananook Ave.

On the subject of housing for $400k in Seaford. No chance on anything beachside. You're looking at $550k minimum for an unrenovated home beachside at the moment. Therefore IMO for $400k you get a lot more house for your buck in Frankston central than Seaford (Seaford u pay for the hip village feel and closer proximity to city).
 
How is everyone bracing for the SE Water staff arrival? Going to be the biggest change to Frankston perhaps ever. In past three years Frankston has gone from zero decent cafes and restaurants to having more than sufficient.
 
Nick said:
Which Golden Mile are you referring to? Seaford's Golden Mile is consistently referred to as Fortescue Ave and Kananook Ave.

On the subject of housing for $400k in Seaford. No chance on anything beachside. You're looking at $550k minimum for an unrenovated home beachside at the moment. Therefore IMO for $400k you get a lot more house for your buck in Frankston central than Seaford (Seaford u pay for the hip village feel and closer proximity to city).
Click to expand...

Seaford golden mile
 
Nick said:
How is everyone bracing for the SE Water staff arrival? Going to be the biggest change to Frankston perhaps ever. In past three years Frankston has gone from zero decent cafes and restaurants to having more than sufficient.
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As I was saying the developers are rolling in by the dozen! Great for the area. Consistently changing!!!
 
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