much appreciated, will do!
Purchasing in VIC - Frankston Area #2
- Thread starter Sabitor_84
- Start date
Wow! Long thread.
I think as I dont live in Frankston, but have traveled there about once a year for 8 or so years, I can se its changing. It's got a nice shopping complex, and school.
If you think about it, its like dandenong, isnt it? Except dandy is closer to city, and fangers has the beach. They both have the same sort of thugs and stuff.
And thats is the only bad point about frankston (apart from being 50kms from city). Its the bogans. Imagine there were no bogans? Nice right? Prices should rise, right? BUt then you look at footscray and all the junkies there (worked there and I saw someone doing a deal in pretty open site). The prices still rise. And I was told years ago they would clean out the junk, from footscray.
Anyway, point is, the only problem we'd have is selecting a tenant that wouldnt be much trouble. And you could do that by fixing the place up, and asking for more money.
Hope I helped...maybe not...
Cheers
I think as I dont live in Frankston, but have traveled there about once a year for 8 or so years, I can se its changing. It's got a nice shopping complex, and school.
If you think about it, its like dandenong, isnt it? Except dandy is closer to city, and fangers has the beach. They both have the same sort of thugs and stuff.
And thats is the only bad point about frankston (apart from being 50kms from city). Its the bogans. Imagine there were no bogans? Nice right? Prices should rise, right? BUt then you look at footscray and all the junkies there (worked there and I saw someone doing a deal in pretty open site). The prices still rise. And I was told years ago they would clean out the junk, from footscray.
Anyway, point is, the only problem we'd have is selecting a tenant that wouldnt be much trouble. And you could do that by fixing the place up, and asking for more money.
Hope I helped...maybe not...
Cheers
Frankston North is 37km from Melbourne CBD and Frankston CBD is 40km it's not 50km, it also isn't anywhere near as Multicultural as Footscray or Dandenong so the social problems arn't anywhere near as complex.
There's a catch though Toony. You pay more for South Frankston. I decided to buy in South Frankston instead of Frankston or North Frankston because it is a more desirable area to live in.
I researched all the area's above and just felt this area would have the highest growth long term as well as attracting better tenants. But you can't go wrong in either area really. Undervalued big time and hoping to buy in the area again soon before prices go through the roof.
Housing Plan for Dimmeys in Frankston - Leader Newspaper 04/09/09
It's about time:-
http://hastings-leader.whereilive.com.au/news/story/housing-plan-for-dimmeys/
It's about time:-
http://hastings-leader.whereilive.com.au/news/story/housing-plan-for-dimmeys/
Agree - but you probably know that by now.
Interesting point: in todays the age, there is a suburb prediction for every suburb and out of 5,
- 1 being 0 percent growth pa in the next 5 years
- 5 being 8%+ growth pa in the next 5 years,
Surprisingly, both frankston and frankston north got ZERO percent growth!!
there are plenty of suburbs that did score a 5!
I'm curious as to know the reasons for 0% growth pa
- 1 being 0 percent growth pa in the next 5 years
- 5 being 8%+ growth pa in the next 5 years,
Surprisingly, both frankston and frankston north got ZERO percent growth!!
there are plenty of suburbs that did score a 5!
I'm curious as to know the reasons for 0% growth pa
How hard is it to find a group of people to predict the growth of all suburbs and other areas in Victoria? The fact is, people can not know how every area in Melbourne will go because they don't know every detail of every area in Melbourne.
The interesting thing about the article is that it predicited about 7% long tewrm growth for Frankston North, but Frankston North still reveived no stars, while other suburbs with 4% growth received 3 or more stars.
Fact is no one knows how much property will grow. If we did, we would all buy in the one location
interesting, I didn't pick up on that, 7% long term growth is probably in the top 25-20% of the list,
ive also noticed that basically every posh suburb, eg toorak, south yarra, malvern, williamstown, melbourne basically all had 5 stars.
so it would be interesting to see if they just basically chose the richer suburbs as 5 stars and went down from there, but I would like to know their reasoning for giving it 1 star= Zero percent pa growth for 5 years
EDIT: I made a mistake, Frankston and Frankston North didn't get 1 star, they got ZERO stars out of 5!!
and another interesting point, out of say 300 suburbs there were only about 4-5 suburubs with a ZERO rating, all were at least 25kms + from the CBD
Yep. We can all do our research, try to identify value and hope that we are rewarded by above average results but this is not guaranteed. But at least buying value and decent yields will save us from going broke even if growth is mediocre.
What they didn't publish was the equivalent article from 5, 10 or more years ago compared with the actual results. This would have been more interesting reading as it would hold those who make and public predictions to account.
What I find interesting with papers is that politically and editorially they editorialise against the class that are their core readership. Ie The Age has intellectual lefties railing for more government (even though its readers are least deserving of its assistance), while the Hun has Andrew Bolt saying government is the problem (though at least some of its readership are deserving of its help).
But when it comes to real estate it's the other way around; the Age (and the ABC which has a similar audience) publish material that tends to reinforce their readers prejudices regarding preferred lifestyles and suburbs.
My positive views on Frankston South are well known but i now find myself in the somewhat unfortunate position of having to offload one of my properties here that I hoped I would (one day) get around to developing. For the people actually looking in Frankston Sth, please see my post in Caveat Emptor section.
Sorry for spamming about my own post elsewhere, but I am often in this section and never go the caveat emptor section. Possibly some people interested on Frankston will miss it.
Thanks
Sorry for spamming about my own post elsewhere, but I am often in this section and never go the caveat emptor section. Possibly some people interested on Frankston will miss it.
Thanks
Properties sell fast in Frankston - Leader Newspaper 5/10/2009
Frankston saw 169 properties sold in the last three months, latest figures from the Real Estate Institute of Victoria show. Only Melbourne's CBD had more private sales, with 194 properties exchanging hands. Mornington came in third with 153 homes privately sold. Altogether, Frankston saw 182 total transactions (including auctions and private sales), REIV spokesman Robert Larocca Said. Mornington saw 158 total transactions, bringing it into fifth place.
Frankston saw 169 properties sold in the last three months, latest figures from the Real Estate Institute of Victoria show. Only Melbourne's CBD had more private sales, with 194 properties exchanging hands. Mornington came in third with 153 homes privately sold. Altogether, Frankston saw 182 total transactions (including auctions and private sales), REIV spokesman Robert Larocca Said. Mornington saw 158 total transactions, bringing it into fifth place.
This is so because Frankston is almost 3 times the size of most suburbs. The larger the area the higher the number of trnsactions.
If the activity in those 3 months was compared with activity in the preceding 3 months then we could have deduced any conclusions. In its current form it is a meaningless stat.
Harris
I have upto $330k after some nice wheeling and dealing from Bradsdad
now I was hoping to hit the Frankston Sth but for that amount it is basically impossible
My other options now are either fluke something around the Central frankston ie Foot st, Kars st etc
Towerhill region or Karingal ?
With my aim to purchase something for good CG and hopefully aim as close to cf neutral as possible so even if means getting something around 270-290k and doing some reno on it etc etc.
So with the above frankston areas What would be best suited?
I notice plenty of houses in karingal area up for sale maybe ill just have to purchase there...
Wot about even Langwarrin as in terms of growth Vs A frakston area??
now I was hoping to hit the Frankston Sth but for that amount it is basically impossible
My other options now are either fluke something around the Central frankston ie Foot st, Kars st etc
Towerhill region or Karingal ?
With my aim to purchase something for good CG and hopefully aim as close to cf neutral as possible so even if means getting something around 270-290k and doing some reno on it etc etc.
So with the above frankston areas What would be best suited?
I notice plenty of houses in karingal area up for sale maybe ill just have to purchase there...
Wot about even Langwarrin as in terms of growth Vs A frakston area??
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Hey Soulfly,
Foot St & Kars St are really Frankston Sth. Towerhill Road is too, though I wouldn't suggest that you buy in that street, nor Foot St.
Central Frankston is around the CAD (frankston CBD). If you can't find what you want in the south, My second choice is Frankston Heights, which is just over Moorooduc Hwy around Heatherhill Road. This is a pretty quiet area, sought after by OOs. Just south of here is Lakewood, which is also a good area. You could find something in the central area or Frankston East (preferable, IMO) which is near John Paul College.
Karingal has quite a high turnover of houses and a higher % of rentals.
As to langwarrin, it's a completely different market. Personally I would stick to Frankston.
Foot St & Kars St are really Frankston Sth. Towerhill Road is too, though I wouldn't suggest that you buy in that street, nor Foot St.
Central Frankston is around the CAD (frankston CBD). If you can't find what you want in the south, My second choice is Frankston Heights, which is just over Moorooduc Hwy around Heatherhill Road. This is a pretty quiet area, sought after by OOs. Just south of here is Lakewood, which is also a good area. You could find something in the central area or Frankston East (preferable, IMO) which is near John Paul College.
Karingal has quite a high turnover of houses and a higher % of rentals.
As to langwarrin, it's a completely different market. Personally I would stick to Frankston.
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Interesting to hear you say John Paul College is a good area, I must have 'winged' it then because I bought a 4 bedroom/2 bathroom house directly across the road from it on Mcmahons Rd almost a year ago.
I did however pay asking price, which is too much for me. (my mistake)
But the property was valued at $35,000 more last week so not bad.
I've always disliked that purchase.. because I've never even seen it apart from photos and word of mount, plus it was vacant for a month whilst trying to find a tenant.. the bathroom is being redone though because it was horrible so I expect things to turn around from here on in, and for $5000 it bloody well better!
So the general area is 'good'? In your opinion of-course.
Thats all I want to know, it might help me sleep better at night.
Thank you.
I did however pay asking price, which is too much for me. (my mistake)
But the property was valued at $35,000 more last week so not bad.
I've always disliked that purchase.. because I've never even seen it apart from photos and word of mount, plus it was vacant for a month whilst trying to find a tenant.. the bathroom is being redone though because it was horrible so I expect things to turn around from here on in, and for $5000 it bloody well better!
So the general area is 'good'? In your opinion of-course.
Thats all I want to know, it might help me sleep better at night.
Thank you.
Hey W2BW,
I like Frankston East better than Karingal & some other areas of franga. To be honest, McMahons Rd is a little busy for me but people live beside the highway, too - so it's a matter of degree. A 4/2 is always a great house to get anywhere in Frankston so well done on that score and the general area is fine.
I'm hoping that this is a long term investment for you and if so I'm sure the property will perform well. You just need to be patient - like the rest of us.
I like Frankston East better than Karingal & some other areas of franga. To be honest, McMahons Rd is a little busy for me but people live beside the highway, too - so it's a matter of degree. A 4/2 is always a great house to get anywhere in Frankston so well done on that score and the general area is fine.
I'm hoping that this is a long term investment for you and if so I'm sure the property will perform well. You just need to be patient - like the rest of us.
