If you want to develop go to frankston nth. Heaps of blocks over 600sqm there and cheap. Too. FCC always are open for new development in that area.
Is it time for Frankston?
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If you want to develop go to frankston nth. Heaps of blocks over 600sqm there and cheap. Too. FCC always are open for new development in that area.
The more money spent in the area the better.
Tranquilo, Frankston North is supposedly a rough area. But Frankston City Council is determined to make good and, for this reason, are kinder to developers who want to build in Frankston North. It's one of very few suburbs where you can buy a development sized block for around $250,000 or less. Rental yields are around 7% if one goes about things intelligently.
About Ray White Frankston. They are underpricers for sure. But really slippery and hard to deal with. If a seller wants $330,000 for his house, they market it at $270,000 just to strike up interest. They then pit one buyer against the other until they get the price the seller wants. They seldom return calls and are notoriously hard to deal with. Might be worth persisting as they usually produce some of the cheapest sales in Frankston.
Tranquilo, Frankston North is supposedly a rough area. But Frankston City Council is determined to make good and, for this reason, are kinder to developers who want to build in Frankston North. It's one of very few suburbs where you can buy a development sized block for around $250,000 or less. Rental yields are around 7% if one goes about things intelligently.
About Ray White Frankston. They are underpricers for sure. But really slippery and hard to deal with. If a seller wants $330,000 for his house, they market it at $270,000 just to strike up interest. They then pit one buyer against the other until they get the price the seller wants. They seldom return calls and are notoriously hard to deal with. Might be worth persisting as they usually produce some of the cheapest sales in Frankston.
http://www.danielandrews.com.au/media-releases/labors-fast-tracked-plan-to-transform-frankston-station/
With labor in power they can really start getting the ball rolling on upgrading frankston station and young st precinct!!!!
With labor in power they can really start getting the ball rolling on upgrading frankston station and young st precinct!!!!
If you build it, they will come?
Spiderman, neeko, Lord Shanghai.
Looks like Frankston north could be for the more experienced investor. I could be wrong (I'm a newbie) but I think its buy and start your subdividing ASAP I don't think its buy and hold for years later. That's why I was looking at this Karingal area the houses are still on nice sized blocks but better condition and livable for many more years to come. This will be my second IP and I am stretching it in terms of funding so I need a better house for now but still have that potential in the future for subdividing, or even if I didn't subdivide still have that nice parcel of land.
Thanks for the Info on this Ray white on how they operate. If I was to buy in Frankston (I'm hoping January) I would be taking a week off work and stay down there and get a feel for the place.
Sorry for my keyboard skills I'm not good explaining myself writing
Looks like Frankston north could be for the more experienced investor. I could be wrong (I'm a newbie) but I think its buy and start your subdividing ASAP I don't think its buy and hold for years later. That's why I was looking at this Karingal area the houses are still on nice sized blocks but better condition and livable for many more years to come. This will be my second IP and I am stretching it in terms of funding so I need a better house for now but still have that potential in the future for subdividing, or even if I didn't subdivide still have that nice parcel of land.
Thanks for the Info on this Ray white on how they operate. If I was to buy in Frankston (I'm hoping January) I would be taking a week off work and stay down there and get a feel for the place.
Sorry for my keyboard skills I'm not good explaining myself writing
maybe we could do a meetup before xmas then? i'll set something up with other forums members and see what we can do
please follow link below
http://somersoft.com/forums/showthread.php?p=1245836#post1245836
please follow link below
http://somersoft.com/forums/showthread.php?p=1245836#post1245836
Not sure if this has been posted before.
I came across a draft karingal major activity centre structure plan a little while back which gives a little insight into Council's direction for future rezoning and Karingal Shopping area development plans.
Just something to consider - haven't bothered following up any more recent info as yet.
I came across a draft karingal major activity centre structure plan a little while back which gives a little insight into Council's direction for future rezoning and Karingal Shopping area development plans.
Just something to consider - haven't bothered following up any more recent info as yet.
This is not far off and will definitely bring in some demand and activity to the area: http://southeastwater.com.au/Frankston/Pages/Home.aspx
Opening next year with about 7000 jobs - small step but in the right direction
Opening next year with about 7000 jobs - small step but in the right direction
p.s. for those that follow the larger projects in Frankston, Urban Melbourne does a great job covering: https://urbanmelbourne.info/council/frankston
Here are some pics of approved developments in Frankston, including Southeast Waters gleaming new office which will house several thousand employees and contractors. Clearly, the area is advancing and real money is pouring in. Looks more yuppie than bogan to me.
As an aside, St Kilda Football Club is now next door in Seaford.......no shortage of people wanting to move into the warm embrace of the Frankston City Council.
Tranquilo seems to have the right idea about buying low-end property in Karingal. The cheap end is still very affordable. Plenty of good value to be found.
FCC is pretty generous to developers, particularly those seeking to make change in the worst parts of Frankston. I am told that in the last 18 months, FCC has approved every single Development Application in dumpy areas like North Frankston. That sounds pretty positive to me.
Take a look at some of the approved buildings below. To be fair though, buying a glitzy apartment in Frankston is unlikely to be a stellar investment as they will be selling for premium prices and may have limited capital gain. IMHO paying too much for a brand spanking new apartment is rarely an outstanding investment. In all likelihood, IMHO the cheapest quartile of Frankston property will outperform the top-end of the market. Whoops for those who may call me a spruiker, here I am telling people not to overpay in Frankston.
As an aside, St Kilda Football Club is now next door in Seaford.......no shortage of people wanting to move into the warm embrace of the Frankston City Council.
Tranquilo seems to have the right idea about buying low-end property in Karingal. The cheap end is still very affordable. Plenty of good value to be found.
FCC is pretty generous to developers, particularly those seeking to make change in the worst parts of Frankston. I am told that in the last 18 months, FCC has approved every single Development Application in dumpy areas like North Frankston. That sounds pretty positive to me.
Take a look at some of the approved buildings below. To be fair though, buying a glitzy apartment in Frankston is unlikely to be a stellar investment as they will be selling for premium prices and may have limited capital gain. IMHO paying too much for a brand spanking new apartment is rarely an outstanding investment. In all likelihood, IMHO the cheapest quartile of Frankston property will outperform the top-end of the market. Whoops for those who may call me a spruiker, here I am telling people not to overpay in Frankston.
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Thanks for the pics Lord Shanghai. In relation to some of your comments about Asian students moving into Frankston Senior High School, it will be interesting to see how well or badly this years crop of HSC students will do.
Few people remember that Southeast Water's HQ was based in Frankston until 1998. Their decision to return to Frankston will create many jobs and will be a catalyst for change. Unfotunately, they messed-up badly on the parking though, hoping that employees will use public transport.
The gossip at Council is that the Marina - which had been approved by all levels of government 5 years ago - is still going ahead. There are a couple of contenders who are keen to develop. The stumbling block is that they are seeking government money. And if they don't manage to get hard-money, they want loan guarantees from the City of Frankston - this cannot happen without Ministerial approval and who knows what the new Labor government will bring to the table?
I've long ago given up on the marina. If it does eventually happen, it will be icing on the cake.
Few people remember that Southeast Water's HQ was based in Frankston until 1998. Their decision to return to Frankston will create many jobs and will be a catalyst for change. Unfotunately, they messed-up badly on the parking though, hoping that employees will use public transport.
The gossip at Council is that the Marina - which had been approved by all levels of government 5 years ago - is still going ahead. There are a couple of contenders who are keen to develop. The stumbling block is that they are seeking government money. And if they don't manage to get hard-money, they want loan guarantees from the City of Frankston - this cannot happen without Ministerial approval and who knows what the new Labor government will bring to the table?
I've long ago given up on the marina. If it does eventually happen, it will be icing on the cake.
Sound advice. Apartments are for hipsters, not serious investors. Still, some people swear by 'em; I know nothing about depreciation and other tax breaks. Too old for that.
This may be of Interest
http://www.realestate.com.au/property-house-vic-frankston-118615815
http://www.realestate.com.au/property-house-vic-frankston-118615815
About as relevant as the crime figures continually quoted
St Kilda's sorry Seaford sojourn
St Kilda?s decision to relocate to Seaford remains, for all that club?s political posturing and diplomatic double-talk, one of the worst decisions in the club?s 117-year history.
But the proposed return to the Junction Oval creates an AFL training base in a highly visible centre, with strong romantic links and a second home at Moorabbin to stage VFL games. The Saints would continue to boast its bayside branding, but with panache.
http://www.theage.com.au/afl/st-kildas-sorry-seaford-sojourn-20140410-zqt75.html
i used to work in South East Water 9 years ago however their office was based in moorabbin. Many of the employees all lived within the peninsula area ranging from frankston, mt eliza, mentone, mt martha, langwarrin and they were a few from the other side of town. The jobs there do are specific. It is unlikely they will create new jobs unless the unemployed in frankston area are civil engineers, project managers, scientist, GIS specialist, IT etc.
As for Asian students - most who go there would go to the grammar schools like 'the peninsula school' or 'toorak college' in mt eliza which personally i was previous student who did year 12 there. The local high schools arond frankston doesn't actually garner much interest as they're not like the balwyn high or even glen waverley high schoool.
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