Purchasing in VIC - Frankston Area #2
- Thread starter Sabitor_84
- Start date
frankston = st kilda 15 yrs ago
It doesn't take long for people with vested interests to bash Frankston. I'm still trying to understand their motives. 15 yrs ago these sorts of luddites would have bashed St Kilda - too much crime, no future etc. No mention that St Kilda has outperformed most other posher suburbs over the past decade. Is it snobbery, crass arrogance or class division that brings out the anti Frankston worms out of the woodwork every time good news about the suburb comes out? A few months ago they said the marina would never happen.....but it now appears as if it might just be built *giggle* Property gurus like Margaret Lomas, Terry Ryder et al seem positive about the place.
Can someone explain who these naysayers are? Are they trying to keep the place to themselves?
It doesn't take long for people with vested interests to bash Frankston. I'm still trying to understand their motives. 15 yrs ago these sorts of luddites would have bashed St Kilda - too much crime, no future etc. No mention that St Kilda has outperformed most other posher suburbs over the past decade. Is it snobbery, crass arrogance or class division that brings out the anti Frankston worms out of the woodwork every time good news about the suburb comes out? A few months ago they said the marina would never happen.....but it now appears as if it might just be built *giggle* Property gurus like Margaret Lomas, Terry Ryder et al seem positive about the place.
Can someone explain who these naysayers are? Are they trying to keep the place to themselves?
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Frankston has excellent prospects for growth and I have a large exposure there however the factors that helped St Kilda 'gentirfy' are not all present in Frankston (mainly the distance from CBD, proximity to some of the best schools, transport access and in general being surrounded by very high value suburbs on all sides (even before gentrification began in St Kilda).
The only comparison I draw between say Frankston and suburbs like Port Melbourne, Footscray and St Kilda is that 'street crime & drug dealing' has not proven to be a major factor in stopping an area achieve its growth potential and experience period of very high growth.
The disproportionately low median for Frankston properties does appear to be an aberration that will correct itself over time based on what it offers in way of cleanest beaches, freeway (tollway), transit city status, marina etc etc.
I would not get too emotional about having to defend Franskton and getting agitated on anyone disagreeing with my belief of the potential of this area.
Comparing Frankston with St Kilda is an extreme comparison (even on a long term time scale) - It has all the necessary ingredients to outperform melbourne median by a long shot (% increase) and it is already on the move. Going to the 'enth' degree in having to defend the growth prospects of this area and making wild claims might just make others (with investments outside Frankston) just ridicule its potential for no obvious reason - a zero sum game in my opinion.
Lets put the facts up about the properties, median, specific projects, stats, plans and strategies, feedback from agents, developers etc and track the median every quarter. This will be far more helpful for everyone and especially those considering buying into that area.
Harris
my two cents worth on frankston north & my personal opinion only
nice location handy to beaches shops & freeways is cheaper than seaford & an affordable first home buyers area.
however drive up to the shops on a friday night & check out the bogans & ferals & hoons dont take my word for it check it out youreselfs
black rubber on the roads evidence of the hoons & people with real attitude problems you can spot them the hoodie wearing stubbie in the hand type walking the streets & loitering near the grog shops, i sure wouldn't live there.
i hope this area improves but cant see it happening with so much lower class & with its drink & drug & crime problems the area has to be cleaned up before i would consider to buy there.
nice location handy to beaches shops & freeways is cheaper than seaford & an affordable first home buyers area.
however drive up to the shops on a friday night & check out the bogans & ferals & hoons dont take my word for it check it out youreselfs
black rubber on the roads evidence of the hoons & people with real attitude problems you can spot them the hoodie wearing stubbie in the hand type walking the streets & loitering near the grog shops, i sure wouldn't live there.
i hope this area improves but cant see it happening with so much lower class & with its drink & drug & crime problems the area has to be cleaned up before i would consider to buy there.
I couldn't agree more with Frankston North. When I first started looking at Frankston area for my first IP, I first went to Frankston North because it was cheap. I literally drove in and straight out again. You couldn't pay me to live there! However, Frankston is a very large area and Frankston North is only one tiny part (in fact it is a different suburb entirely with it's own postcode). There are some really nice estates in Frankston that I would feel comfortable to live in myself if I had too, and this is where I ended up purchasing (to me it was absolutely worth paying an extra $50K to get something nice in a nice area). My opinion of Frankston North is that it is for investors wanting to buy large blocks of land and sub-divide. For someone who just wants a 'safe' nice rental property with long term capital growth, with low risk tenants, then the nice pockets of Frankston I believe are the way to go.
I bought an investment property in Frankston North late last year and I'm very happy with it thus far. I drove around Frankston North last night (a friday night) just after 9pm. I would have been in the area for at least 30 minutes. I didn't see any hoons in the area at all. I didn't see any bogans or ferals either. I even went for a walk around the area.
I'm sure Frankston North has it's social problems like other suburbs. Hoons are everywhere, drug dealing occurs everywhere in Melbourne. In my experience driving and walking around the area (done it more than last night), I don't feel that the negative stero type that some people seem to highlight about Frankston North is warranted. Most people in the area seem to want get on with there lives and not cause propblems for others.
If the property prices in Frankston North keep going up like they have been for the last few months (I don't have any official figures, but my guess is they have gone up around 10% since April), and I continue to have good tenants in the house, then I'll be happy.
I'm not so sure why so many people are becoming so heated up, for better or for worse, by one single suburb in one city. Some are talking it down and some talking it up- but I don't think that any single location has attracted so many diverse opinions, and continues to be discussed so much, as Frankston.
It may be because it is entry point pricing to Melbourne. Though I'm so old that I remember when it was not considered a part of Melbourne.
Alternatively it may be because people with opposing vested interests either want to talk it up or talk it down.
Any thread on Frankston seems to get very strongly opposing opinions and heated replies.
Recent responses have been civil despite opposing views. Obviously that's good.
But if that changes the topic may become taboo.
So let's be careful out there ;-)
Frankston ferry plan on radar - Leader Newspaper 20/07/09
I apologise for the fact that this article is almost a month old, but only come across it today. It will be very interesting to see Frankston unfold over the next 2-5 years and irrespective of the arguments one way or the other, development will occur and attitudes will and to some degree have already started to change.
http://frankston-leader.whereilive.com.au/news/story/frankston-ferry-plan-on-radar/
I apologise for the fact that this article is almost a month old, but only come across it today. It will be very interesting to see Frankston unfold over the next 2-5 years and irrespective of the arguments one way or the other, development will occur and attitudes will and to some degree have already started to change.
http://frankston-leader.whereilive.com.au/news/story/frankston-ferry-plan-on-radar/
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I doubt that people talk down frankston just so the property prices will stay low and they can pick up a baragin. That would not work. People talk down frankston because they believe what they are saying. People who talk down frankston I believe do have valid points. Frankston is seen as one of the worse suburbs in Melbourne.
The amazing thing about Frankston for me, is its diversity. You have the really well to do areas in Frankston and you have the really lower social economic areas. I can't think of any other suburb in Melbourne that has that diversity.
Also when you talk about Frankston there are 3 areas. Frankston (which could be split into 3 catergories on its own) Frankston South (which I don't know much about but seems to be the well off area of Frankston) and Frankston North, (which seems to be the pits in most peoples eyes). My area of interest is Frankston North.
For me Frankston North is amazing. On the Frankston North side of Frankston Danenong Road, property seems to be at least $50,000 cheaper than the Seaford side of Frankston Dandeong Rd. Is property (a) worth $135,000 more than property (b)? Yes property (a) is a better house and thus should be worth more but $135,000 more?
http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=66483950&s=vic&tm=1250339245
http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=11929268&s=vic&tm=1250339543
Also why is property (c) worth $320,000-$340,000 while property (d) was advertised at $255,000. Yes property (c) is in a better location than property (d) as it is slightly closer to the bay, but should it be worth $60,000-$70,000 more. Property (c) is quite close to Frankston North
http://www.realestate.com.au/cgi-bi...mt=&header=&cc=&c=1888153&s=vic&tm=1250339642
http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=99591012&s=vic&tm=1250339880
I don't expect Frankston North to be on par with Seaford. Seaford is a better location. However I expect in the future that Frankston North will be worth more than Karringal. Frankston North in my opinion is in a better location. This leads me to the conclussion that either Seaford and Karringal are overpriced or Frankston North is underprice. I'm thinking Frankston North is underpriced.
The reason why I speak up Frankston North is not because I think by speaking it up, it will increase its value (I don't think I have that much power) but because I believe in its potential.
I think it's great that people have diverse opinions on Frankston and Frankston North and I encourage people of all opinions to express there opinions. As an investor you learn most from people who have a different opinion from yourself.
I think there is alot of debate from those who have lived in the area and those that have not.
I grew up and went to the Schools in Mentone. While I was at Uni my parents decided to move to Frankston. (Dad was a builder in Frankston and decided to live in his current project). I nearly hit the bl00dy roof when they decided to do that. No way did I want to move to Frankston. I had the usual Melbourne mentality about the place.
Having lived there, its a great place. Its near the beach and the Peninsula. It has all the infrastructure of a city (Uni, Hospital, large shopping centres etc). The only down side is the distance from the city and some people in the North Frankston area. Lets make it clear NOT all people there.
The debate primarily relates to those who live or have lived there and those who have not. I would pay more attention to those that live there.
I guess the best way for people to ascertain the level of crime in any area is to check for themselves. The Police release crime stats for most suburbs and my understanding is that crime in Frankston has fallen greatly (when compared to 3 years ago) and is no worse than inner city Melbourne. It is good to know the Police are doing their job.
Do your due diligence if you are looking to buy in the area. Don't just follow property gurus who've nominated Frankston/Seaford as hotspots. Only when YOU are satisfied that the area is cheap, relative to the rest of beachside Melbourne, should you commit.
I have invested in Frankston, Seaford and Mt Eliza. My wife is an academic at Monash University's Frankston campus.
Do your due diligence if you are looking to buy in the area. Don't just follow property gurus who've nominated Frankston/Seaford as hotspots. Only when YOU are satisfied that the area is cheap, relative to the rest of beachside Melbourne, should you commit.
I have invested in Frankston, Seaford and Mt Eliza. My wife is an academic at Monash University's Frankston campus.
You're as bad as those Melbourne people you speak of Toony, it's not only Frankston Nth that has some bad eggs. I've inspected properties beach side in Seaford where the tennants have had dope plants growing in the cupboard and baby poo smudged all over the floor. Karingal and Frankston Sth both have their fair share of ratbags too.
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I always thought Frankston South was in a league of it's own. Which area's in particular Bayside?
Your right. All I am trying to say is that Nth Frankston is a little worse than those other areas. I have had some trouble tenants in my Sth Frankston properties. But I choose Sth Frankston over those other areas.
This is not a actually comment about how good Frankston is!!!
Can someone please tell me the rough costs of subdividing and building 2 units/townhouses in frankston, I know this is an open ended question, but a rough estimate would be appreciated.
say you get a 600-700sqm property which is a very common size in frankston and its surroundings, and say it cost you $350k, thats $175k each per land,
how much would you be looking in TOTAL costs if you subdivide without going overboard...
much appreciated
Can someone please tell me the rough costs of subdividing and building 2 units/townhouses in frankston, I know this is an open ended question, but a rough estimate would be appreciated.
say you get a 600-700sqm property which is a very common size in frankston and its surroundings, and say it cost you $350k, thats $175k each per land,
how much would you be looking in TOTAL costs if you subdivide without going overboard...
much appreciated
anyone kindly help me out on the ^^^^ comment?
