Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
My father just bought a home in Mt. Eliza
Why do you guys think this area has the snobby factor?
[/My father just bought a home in Mt. Eliza, it is very good value for money. Does anyone have any opinions on the area regarding value for money or potential for growth?QUOTE]
I have the historical growth pattern for Mount Eliza: (Sourced from Vic Valuer-General)
Mt Eliza: 1994 Median House Price: $183,500........MHP 2004: $490,000.....so a change of: 167%
Mt Eliza is an untapped goldmine, the returns maybe not that great but CG will exceed other parts of frankston in the coming years. Anything close to the village is a good investment depending on your circumstances, probably better for your PPOR as you might get a big CGT when you sell and not the best rental return. The ranelagh estate has single dwelling covenants on it, so any development sites near but outside this area will continue to attract a premium. Mt Eliza does not have the lower class of people that you have to deal with in frankston (note I live in frankston) and you can do your shopping there or at mornington. My father bought some land a while ago there and more than tripled his money in about 8 years. If he still had it he would have quadrupled in about 10 years. I have previously lived in south frankston for 15+ years and would take Mt Eliza anyday.
With the drug problems in frankston, traffic hassles on a saturday morning and increasing multi unit developments, I believe you will see a shift of wealthier frankston south residents towards mount eliza.
very interesting, you also need to consider that frankston has much more activity because of the lower pricing and larger area of real estate.
Hi Harris,
I'm sure it's been mentioned somewhere before (I think even by yourself?), but can you explain the formulas you use to work out activity levels using realestate.com.au? Is it the Under contract/offer vs the houses for sale? And why do you believe this is a good indicator?
Thanks in advance
Banked
I never proclaimed to be a statitician, these are my opinions only. I hate bagging frankston, but you are making me do it to defend my statements.
Harris there are stats and local knowledge. I dont think stats always look at every angle. An example of this is a house a friend of mine bought in MT Eliza 2 years ago for 315 k. They just sold the block next door for 450k no agents involved, a builder bought it by approaching the owner, this aint shown on realestate.com.
Harris you might do the stats and drive down here on weekend looking at properties. I have lived here (frankston) all my life. Through collegues I have access to PRISM (what valuers use to determine what a property has sold for) so can often access the true result a property has sold for) for free. In any event I would rather live in Mount Eliza and if I can find a property for a good price I will buy one, than live in franga where I live now.
You can buy a mt eliza property for 400k spend 100K on reno and sell for close to 700k.
3 br units can fetch 550+K. You will struggle to get that in denbigh street.
Look each to there own. If you folow stats you should go buy something in tyabb.
Most are my statements are relayed from people that live here and people that are on the move, something you know little about. Without saying what I do for a living I have very good knowledge of what people are doing a long time before any stats will show this. I also know of quite a few people that are selling up in frankston south and moving to mount eliza.
I also hate to say this on a public internet forum, but frankston is getting worse in terms of the scumbags, again my opinions but something stats dont show, stats say people are feeling safer.