Purchasing in VIC - Frankston Area

[newpoint]

Toni, Thank you very much for your kind reply.
I am just wondering whether Whistlestop would be affected by frankston bypass project? I read through the threads, remember you said the city council had three options for frankston bypass but each would route passing through Frankston North's Pines Flora and Fauna Reserve.
The point is Whistlestop is adjoining Frankston North's Pines Flora and Fauna Reserve. would be good or bad?

 

[Toni]

Toni, Thank you very much for your kind reply.
I am just wondering whether Whistlestop would be affected by frankston bypass project? I read through the threads, remember you said the city council had three options for frankston bypass but each would route passing through Frankston North's Pines Flora and Fauna Reserve.
The point is Whistlestop is adjoining Frankston North's Pines Flora and Fauna Reserve. would be good or bad?

This is true. I know they are currently doing environmental impact studies on the Southern Brown Bandicoot that are apparently there, as to how this is going, I don't know.

We are also being told that no house would be removed from this area for the bypass.

From what I have read, I don't think it will be too bad, provided you don't buy a property along the edge of where the proposed freeway is going.

If you are seriously considering purchasing in that area, I would ring SEITA. They would have more of an idea.

Sorry I couldn't be more help. Maybe someone else knows a little more.

Toni

 

[newpoint]

Thanks Toni again.
I have no idea what I should buy for investment in Frankston as I am a novice. I know BA can do much more help, any one knows good BA in Frankston who can help me do my portfolio? many thanks!

 

[jingo]

Thanks Toni again.
I have no idea what I should buy for investment in Frankston as I am a novice. I know BA can do much more help, any one knows good BA in Frankston who can help me do my portfolio? many thanks!

He may not be a BA, but Harris would be a great first point of contact. He knows the Frankston market extremely well, and would give a BA a good run for their money.

Regards Jason.

 

[GordonGekko]

so would it be bad if i had a property on tamarisk drive? next to the pines reserve? ... how much would my property drop in value? or... wouldnt it drop at all? ... argh ... i got an offer just last week for 230k .. but i didnt want to sell....

what do you think foruumiites? .. should i get the ^*@*^ out of there? or ....

 

[Toni]

so would it be bad if i had a property on tamarisk drive? next to the pines reserve? ... how much would my property drop in value? or... wouldnt it drop at all? ... argh ... i got an offer just last week for 230k .. but i didnt want to sell....

what do you think foruumiites? .. should i get the ^*@*^ out of there? or ....

The costs involved in selling and re-purchasing just wouldn't be worth it. I would think most people are aware of the proposed freeway and would no doubt be calculating this into the equation already. Don't panic, hold on.

This is a very affordable area and I believe will always do well, despite the freeway. As a new purchaser to the area however, just in case, I would be less inclined to choose anything on that edge until at least the freeways completion. Then you will know how it has been effected, if at all.

Unless of of course you get a bargain.

Toni

 

[Toni]

Thanks Toni again.
I have no idea what I should buy for investment in Frankston as I am a novice. I know BA can do much more help, any one knows good BA in Frankston who can help me do my portfolio? many thanks!

I agree with Jingo, Harris would probably be your best bet.

Toni

 

[GordonGekko]

are we talking about Ea$tlink or the blue line on the melways "Mornington peninsula freeway" ??? the blue line is in the reserve and just last week they cut down all the trees next to the fence :-(

could someone tell me more about these developements?

thanks heaps

GG jr.

 

[Toni]

are we talking about Ea$tlink or the blue line on the melways "Mornington peninsula freeway" ??? the blue line is in the reserve and just last week they cut down all the trees next to the fence :-(

could someone tell me more about these developements?

thanks heaps


GG jr.

The blue line on the melways "Mornington Peninsula Freeway". GG give SEITA a ring in the morning and see if they can clarify this.

Toni

 

[GordonGekko]

thanks for the replies tony , i meant the green line .... not the blue

 

[Toni]

thanks for the replies tony , i meant the green line .... not the blue

lol... you're right it is green. Too late at night for me. Need to get some beauty sleep now.

Let us know how you go tomorrow.

Toni

 

[newpoint]

He may not be a BA, but Harris would be a great first point of contact. He knows the Frankston market extremely well, and would give a BA a good run for their money.

Regards Jason.

Thanks Toni and Jingo. But how can I contact with Harris for advice or help? Thanks a lot.

 

[Toni]

Thanks Toni and Jingo. But how can I contact with Harris for advice or help? Thanks a lot.

Private Message him. Click on Harris (one of his replies) and a list will drop down. On that list you will see "Send a Private Message to Harris". This way you can contact him via his private messages.

Toni

 

[ching8]

Thank-you Toni for your advice!
I am submitting an offer today.
If all goes well, will tell you about it too!

 

[Guan]

Pssttt...

I went to Mornington for hot spring bath during the weekends. When I passed by Frankston, I was wondering why many people hanging out around the real estate agent offices. Seriously people, who the hell want to stay in Frankston!!??? The suburb is full of uncivilised bogans, who hang around the pubs all day and being nuisance to strangers on the streets. Also, the commercial area is dead with businesses closing down from time to time.

From renting perspective, Frankston is pretty ridiculous choice especially if you are working near the city (where most people work) which is some 40 kms away. Cause if you count on how much extra you are going to pay for your petrol and more expensive train tickets (metcard for zone 1+2), you might as well rent nearer to the city where the place is safer, more convenient, save energy by driving shorter (if you are driving) and has more lifestyle choices. But of course it wont matter if you work in Frankston or you are a retiree.

Just my thought...

 

[Peter Parker]

Cause if you count on how much extra you are going to pay for your petrol and more expensive train tickets (metcard for zone 1+2), you might as well rent nearer to the city where the place is safer, more convenient, save energy by driving shorter (if you are driving) and has more lifestyle choices.

Petrol costs would be dearer, but fares for Frankston to the city (zone 1+2) are no dearer than travel from suburbs such as East Bentleigh, Moorabbin, Clayton, Box Hill, Glen Waverley, Doncaster, Sandringham or Greensborough.

 

[The_Bludger]

From renting perspective, Frankston is pretty ridiculous choice especially if you are working near the city (where most people work) which is some 40 kms away. Cause if you count on how much extra you are going to pay for your petrol and more expensive train tickets (metcard for zone 1+2), you might as well rent nearer to the city where the place is safer, more convenient, save energy by driving shorter (if you are driving) and has more lifestyle choices. But of course it wont matter if you work in Frankston or you are a retiree.Just my thought...

Traveling costs is also of a concern to me. Given that the new freeway isn't free, it will cost somebody $4.82 per day to use it driving from Franga to the city. That's $25 per week, plus let's say $15 a day parking, which is $75 per week. So that's $25 + $75 + say $60 fuel, that totals $160 per week just to get to work! Wouldn't this money be better used on paying off a larger mortgage on a house purchased closer to the city? Or if you're a renter, putting this money towards paying the landlord instead of putting it towards travel costs?

With higher interest rates looming, plus whatever else the banks dish out at us, I'm predicting more opportunities presenting themselves inner city or middle suburbia which would provide a higher rental return and better CG over time.

I'm not writing off Frankston by any means, but I feel as if I have missed the train so to speak. The other thing is, talking to agents it appears to be very investor driven ATM which means this may be leading to inflated prices somewhat.

 

[Harris]

Traveling costs is also of a concern to me. Given that the new freeway isn't free, it will cost somebody $4.82 per day to use it driving from Franga to the city. That's $25 per week, plus let's say $15 a day parking, which is $75 per week. So that's $25 + $75 + say $60 fuel, that totals $160 per week just to get to work! Wouldn't this money be better used on paying off a larger mortgage on a house purchased closer to the city? Or if you're a renter, putting this money towards paying the landlord instead of putting it towards travel costs?

I am at a total loss to understand why anyone working in city would want to live in frankston. I would believe that more than 90% of Frankston renters currently work close to Frankston or perhaps in middle ring suburbs.

Eastlink will bring a new wave of renters/ first hom owners who perhaps might work in Doncaster or Croydon or even Glen Waverley and might choose to buy / rent in Frankston with a 15-20 minute commute to their work place from June onwards.

That will create demand for Frankston properties (similar to multiple middle/ outer suburbs that jumped in value after a freeway connection) and, ultimately increased rents and higher yielding properties - which in turn will bring a fresh wave of investors wanting higher yields.

Harris

 

[Toni]

psstt.... I wouldn't live or work in the city, no matter what you paid me. I did that for many years, travelling from Donvale every morning, getting up when it was still dark, not waking up till I made it to work, then leaving work at 5, only to make it home by 7pm. No thanks!

As for living in the City, sorry, couldn't do that either. Have you seen the smog from where we are looking across the bay to the city first thing in the morning. Trust me it's not a pretty picture.

You can keep your city living all to yourself. I Just love Frankston.

By the bay, oops sorry, by the way, Mornington spa's are only down the road from us, as to are, golf courses, and wineries etc....

Toni

 

[Southsider]

"You can keep your city living all to yourself. I Just love Frankston.

By the bay, oops sorry, by the way, Mornington spa's are only down the road from us, as to are, golf courses, and wineries etc...."

Couldn't agree with you more Toni.

On the subject of travel, when I lived in Hawthorn it would
take, at very best, 40 minutes for me to commute to Fitroy Street St Kilda. From Frankston it takes 60 minutes.
Due to work, I require the car throughout the day so the
40K, 60 minute travel distance is no mind bender for me.
In fact, in a twisted sought of way, I find it good value.
Example : If I lived in Mitcham my travel would be
20K over 75-90 minutes. I think the eastern suburbs
have to many travel bottlenecks which is not apparent on
the Frankston to City route.