Mount Eliza

35 Royle street was sold in 2003 for 160k it has achieved big growth, does not mean it will be sustained. Has this property even settled yet.

Also buddy, and you bought 3 nolan street with a big easement running through the middle and nearly bought the other one with the drainage issues. I dont call that very good research. When giving you advice on that I never once dicected your post on said "what are you doing buying development sites when you obviously no jack about developing" I was courteous and tried to help. Next time buddy find you own answers and people to assist.

Do you think property valuers do their reserach on real estate.com.

What I am saying is most of the CG is probably gone out of frankston you wont see as much of it again is has been in the past. If you read my previous posts and the comments by myla you will understand why mount eliza has has previuosly grown at a slower rate, I do not own a crystal ball but there will (in my opinion) be better increases than frankston.

What nationality are you harris, because I am a italian and italians that I know never look into stuff like you do. Are you sri-lankan by chance.

If you rely on growth stats to much you will miss the boat. I bought a house in frankston in 2001 for 106k now worth about 320 k. I like people like you because they jump on board after people like me. Most of the current developments around frankston south are done by mum and dad investors or people from out of town must of the local guys have moved on as there is a bit of an oversupply and land costs to much, (note I am also commencing a dual occ in frankstion but have no plans to sell).

As I said this is my opinion, you can buy or do what you want. I know its in your best interests to talk up frankston and its also in mine. So if you are correct it is better for me anyway.

We are here arguing about nothing, I admit you are the research and statistic king, I am just here to spread wishy washy stuff. I do not talk myself up like you do either, basically I beleive you have spent all what you can afford in frankston (eggs in one basket) and now are trying to talk it up to ensure your investments continue to rise. I admire your dishonesty.

I am giving my opinion on someone asking about mount eliza this was never a Mt Eliza vs Frankston Debate.

Good luck to you buddy, hope you dont have much trouble with the planning ESO on denbigh street or arent you aware of the one.

cheers

The wishy washer
 
We have lived in Mount Eliza for 23 years and recently sold with a settlement date of 1/3/07. The price was a tad under $700k and surprise surprise the figure was not even mentioned in the statistics. The Ansett property in the same street sold for $14.5m and it also did not get a mention - mind you it is not exactly a normal property. Most of the other properties in our old street that are/were for sale are over the $600k mark.

After monitoring the local area over the last 15 or so years I cannot reconcil the actual sales with the published statistics, which appear to be much lower.

Do I believe that Mt Eliza is undervalued - yes. When we first bought there we could have purchased almost 2 properties in Frankston and possibly 3 in the pines or some parts of Mornington. Now the ratio gap of Mt Eliza to Frankston has closed quite remarkably. A lot of Mornington properties are also very close in value to Mt Eliza.

We have an IP beach side of Mt Eliza which has 1600m2 and was valued at $350-$390k just last week. Sounds a bit down on what the surrounding suburbs of Mornington or Frankston are selling for don't you think?

Or our future PPOR that we purchased near Toorak College in May for $422k (average price for Melbourne?), 4 bedroom, 3 bath, cathedral ceilings etc which will require renovating.

cava
 
Harris, do you know what happens to balloons when you blow them up to much? they pop. Anyway I am too busy to be arguing irrelevant stuff. Each to their own. And sorry I meant 5 Nolan with the dirty big easement running through it. I research individual properties not stats. You should also check if 35 royle street can be legally rented as a seprate property.
 
This is getting out of hand here, Harris I think we should agree to disagree and leave this thread at that. I apologize for suggesting your nationality. Should not let it get personal hey.
 
Why do you guys think this area has the snobby factor?

yes Giulio; it definitely is a "one handed" suburb. Admittedly it has the yacht club and a few private (pronounced prarvert) schools, but so what?

It's because people who live in Mt. Eliza love to (with subtlety) tell you that they are from there, which private school they went to, which one their kids are going to, where they went on their European holiday, what brand-name clothes they are wearing, which dealer they went to for their Range-Rover (usually Stewart Webster of Frangers I'm tipping) and so forth.:mad:

They create the snobbery through their attitude. Even when we lived in Red Hill (20 mins away) our neighbor made sure we knew her son went to Padua....Mt. Eliza (there is a Padua in scuzzville Rosebud as well - 15 mins away).

They are all delusional of course; everyone knows that Dromana ROCKS!

I love it when I meet a Mt. Eliza tosser and they ask me where I am from, I say Dromana proudly, and they say "eeeuuww!" with their body language.

I don't care; our house has doubled in 4 years and is still going mad. Bring on the Martha Cove Marina!!;)
 
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