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Has anyone used EView Realestate in Frankston as PM's? Any comments?
Which PM have you been using? I have just purchased an IP in Frankston through EView (Settlement is in 7 weeks) - the agent has told so many porky pies throughout the process so I am not that keen on them.
The problem I have though is that the vendors want to stay on for a few months and the agent has just presumed that I will go with them as PM. Do I have the right to take through another PM before settlement to decide who I want to use? If so, how do I go about it?
I predict that the future growth of Frankston house prices will not be as good as many in here have always thought... Many of current Frankston (especially North Frankston) residents (mostly couples with children), are selling their homes and moving inland to suburbs like Pakenham and Berwick where they can get bigger, better quality homes (even new homes) for similar or a little higher prices. You guys may think why do they want to move inland while they can enjoy better lifestyle (happier) in Frankston where it is near the water... The answer is no, they are not happier... Trust me as a couple of my workers are living in Frankston. They said they are sick of the sea view and the area has not much to offer in terms of jobs or business opportunities... New businesses (except fast foods) rise and close down frequently... This I suspect is due to the fact that residents in the area have low incomes or in other words, have a weak spending power...
Also, most house owners in Frankston area are now investors and this I can see is growing... creating an over supply in rental properties in the area, hence, lower rental yields due to bigger competition. This also puts house prices at great risk of getting a lousy growth, especially when Aussie economy is at risk of facing downturn with rising interest rates due to inflation which will cause investors who are vulnerable to increasing holding costs to lose their investments.
The latter part is important because I have noticed that in a long run, places with higher number of investors than owner occupiers tend to have weaker growth. Though, I have seen big growth when lots of investors move into an area... but sadly in many cases, they did not last...
Of course many of you would be angry with me for putting Frankston off (as a few of you did for my last reply in this post)... So in return, I would like to introduce you fellas to other suburbs (if you have not already known) like Traralgon, Launceston and Burnie (the latter two are in Tasmania) which offer similar or lower house price range compared to Frankston, and which I think have huge potential for excellent growth... I can share with you guys on why I think they are great for investment if you fellas would like me to... Won't do it now or in here as I need to respect the starter of this thread hehe...
Cheers
I predict that the future growth of Frankston house prices will not be as good as many in here have always thought...
............. looks like limited rental stock and plenty of homes for sale... but the airiel view of where it is does not do any justice, and what is the impetus for growth in the future? ]...........
MM
traralgon is the fastest growing area because they cant afford birth control