Is it time for Frankston?

It's true it's true.

Frankston now seen as a "high demand market" according to rp data stats. Which I find quite interesting
 
How 'bout a photo? :)

South East Water - Frankston

Taken today from 'Waves' bistro carpark - beach side of the canal.

d9bbbe2e-01a8-4b4f-970d-34f56bcf7798_zpsqxrkbwjw.jpg
 
What are your opinions on the properties around the Frome, Harrow,Oxford st area?
Yield is nothing special as you are looking around high 300's buy in for
about a high 200's rental return.

I've got an IP in Oxford Street. It borders Frankston South, so it's in a good spot. Probably why houses are a little more expensive here - it's a nicer part of Frankston. Local shops end of street and Frankston High and Primary school are just around the corner and in the zone.

A lot of developments happening and new town houses coming up. It's a good sign for the area. I'm getting $350 rent for a 3 bedder, bungalow and 2 bathroom, so it costs me nothing to hold. Paid $345K about 5 years ago - estimated to be worth about $430K now. I can subdivide\sell and walk away with a nice profit - but I'm holding. There's more money to be made in my opinion.

As far as what is it like? Sure, there's a few bogans around, but just drive through Ringwood and you will see them there too and pretty much every other suburb in Melbourne as well. Well maybe not all, but you know what I mean. The tenant I have is real nice and my neighbors are good too.

Do your due diligence and it will all become clear as day...eventually.
 
Thanks for the reply.

You've done well.... I've done a fair bit of research and I'm really warming to the area.

School zone factor is really starting to amp up. That strip of shops you mentioned are really vibrant. I hung around there for an hour. I'll bet you $20 that a semi trendy coffee cafe bobs up there in that strip in the next two years.

I'm having some difficulty with Frankston figures as I'm really concentrating
in the pocket we are talking about.

High school zone and walkable to the high school... plus walkable to the biggest employer in the area The hospital are two of the big factors for me.
 
I've got an IP in Oxford Street. It borders Frankston South, so it's in a good spot.
Paid $345K about 5 years ago - estimated to be worth about $430K now. There's more money to be made in my opinion.

The_Bludger, you've done well. Can I ask how you got your estimate? Have you had a 'proper' valuation yet?
 
First post in this thread,

want to thank you guys, i have recently purchased an IP in frankston and have been monitoring this thread since before then. As I'm not a resident of Frankston - you guys have provided a wealth of inside information.

saw this beauty today:
http://www.realestate.com.au/property-house-vic-frankston-119039647

great block size and in the zone.

no doubt hocking stuart have underquoted as they do, but fantastic location near high school and gardens. not sure on how being in the zone affects rental prices- as opposed to frankston central?

this one not too far away, not sure on block size:
http://www.realestate.com.au/property-house-vic-frankston-118971075
 
Congratulations nicholas91. I hope your timing turns out to be brilliant!
Was just having a look at SQM and it looks like Frankston is finally starting to pick up. Rents are strong, selling prices are getting stronger.
I think the state govt promises and plans were the spark that Franga needed.
 
Congratulations nicholas91. I hope your timing turns out to be brilliant!
Was just having a look at SQM and it looks like Frankston is finally starting to pick up. Rents are strong, selling prices are getting stronger.
I think the state govt promises and plans were the spark that Franga needed.

Thanks WattleIdo, hopefully can ride this wave!
 
hi guys,

Whats is the general consensus on the outlook for Frankston this year ??

I have my PPOR in Central Frankston and I am looking at selling this year, maybe early next year at the latest. I am moving interstate so buying in the same market is not a concern.

A couple of agents that looked through it last year valued it:

$ 450K (Hocking Stuart)
$ 500K + (Barry Plant)
$ 600K (Harcourts),
because it is a unique house and nothing much like it in the area blah blah blah (insert agent waffle in here). However they all tip toe around the question on their outlook for this year.

It will not attract investors cause it is not able to be subdivided, so I assume the price will not attract them but who knows.


What do you think would be the best time to cash in on Frankston ?? Now or later in the year/ very early next??

Cheers
 
certainly coming along!
South East Water will be a great addition to the place.
Thanks for the photo :)

Does anyone know if the ground level on beach side of the South East Water development will be leasing out any small spaces for retail/ food/etc or will they be occupying the gross space post build?
 
First post in this thread,

want to thank you guys, i have recently purchased an IP in frankston and have been monitoring this thread since before then. As I'm not a resident of Frankston - you guys have provided a wealth of inside information.

saw this beauty today:
http://www.realestate.com.au/property-house-vic-frankston-119039647

great block size and in the zone.

no doubt hocking stuart have underquoted as they do, but fantastic location near high school and gardens. not sure on how being in the zone affects rental prices- as opposed to frankston central?

this one not too far away, not sure on block size:
http://www.realestate.com.au/property-house-vic-frankston-118971075

Um........Maybe they did underquote? Sold for $712,000

http://www.heraldsun.com.au/leader/...nkston-hot-spots/story-fnqsbpzr-1227267706586
 

I was at the auction as moral support for a friend of mine, I did think it was slightly underquoted, but thats nothing new for frankston.

I was however very surprised at the final price,

but not surprising it would have attracted professional developers, to amateur to mum and dad developers along with investors,

corner block, big block, existing house shabby, great location, close to frankston high school and within the zone,

I was expecting $600k max, or even high $500s, as someone did a fesa study in another thread, not sure where the value in it was except for a long term hold or land banking

edit:L you can still get 700-800 sqm blocks (buy it now) in similar streets for $500k so I think there was a bit of emotional bidding going on
 
Anywhere that's not Frankston. You're looking at wealthy Melbourne suburbs. Toorak, South Yarra, Kew, Balwyn, Albert Park, Brighton, Hawthorn, Middle Park to name a few.

Hi

That is right. Frankston would be classed more "Potato Chip" than a Blue Chip suburb!:rolleyes:

And I love my Potato chips:eek:

Regards,

alicudi
 
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