Purchasing in VIC - Frankston Area
- Thread starter Cherry Pro
- Start date
Boardwalk with a message makes shore accessible - The Independent July 1
The new Frankston Waterfront boardwalk, connecting the Frankston Life Saving Club to the Frankston Yacht Club and beyond, was opened by Frankston Mayor Alistair Wardle last week.
The project was a partnership between the council, the Sate Government and Frankston Sunrise Rotary Club. The boardwalk is intended to provide improved access for wheelchairs, prams, the elderly, recreational cyclists, joggers and walkers. It will also reduce pedestrian traffic on the dune area.
Cr Wardle said the boardwalk was a great recreation initiative. "This connects with the existing boardwalk which runs all the way to the foot of Olivers Hill," he said. "This means enjoying and exercising along our foreshore is now far more accessible for the community, including parents with children in the prams and people with a disability."
The council paid $480,000 to the project and the Government gave $250,000 as part of Parks Victoria's Bay trail program.
The Rotary Club raised $17,640 towards the boardwalk by selling deck boards which contain a specified message from each buyer and which were laid by club members.
Toni
The new Frankston Waterfront boardwalk, connecting the Frankston Life Saving Club to the Frankston Yacht Club and beyond, was opened by Frankston Mayor Alistair Wardle last week.
The project was a partnership between the council, the Sate Government and Frankston Sunrise Rotary Club. The boardwalk is intended to provide improved access for wheelchairs, prams, the elderly, recreational cyclists, joggers and walkers. It will also reduce pedestrian traffic on the dune area.
Cr Wardle said the boardwalk was a great recreation initiative. "This connects with the existing boardwalk which runs all the way to the foot of Olivers Hill," he said. "This means enjoying and exercising along our foreshore is now far more accessible for the community, including parents with children in the prams and people with a disability."
The council paid $480,000 to the project and the Government gave $250,000 as part of Parks Victoria's Bay trail program.
The Rotary Club raised $17,640 towards the boardwalk by selling deck boards which contain a specified message from each buyer and which were laid by club members.
Toni
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Go Franga go!
Do you think any of the land along the FRankston Freeway will ever be released? Seems to be alot of paddocks before Thompsons Rd or is that part of the green wedges...?
And where you turn off at Rutherford rd for Carum Downs whats going on there? Lots of Factories and half finished rds will that ever be a town centre?
And where you turn off at Rutherford rd for Carum Downs whats going on there? Lots of Factories and half finished rds will that ever be a town centre?
Vacant Land
Hi AB, vacant land west of the Frankston Freeway is the Seaford wetlands
reserve, land North of Thompson Rd is in Greater Dandenong and is owned
by Melbourne Water and al land around the Rutherford Rd area up to
Dandenong is all zoned industrial use. Anyway you wouldn't want to live
anywhere East of the freeway, a few years back (3-4) it was 1m underwater
after heavy rains.
SS
Hi AB, vacant land west of the Frankston Freeway is the Seaford wetlands
reserve, land North of Thompson Rd is in Greater Dandenong and is owned
by Melbourne Water and al land around the Rutherford Rd area up to
Dandenong is all zoned industrial use. Anyway you wouldn't want to live
anywhere East of the freeway, a few years back (3-4) it was 1m underwater
after heavy rains.
SS
Marina
The first model did not stack up commercially, so Council is currently in the process of amending the planning permit to allow more viable model.
Waiting on Minister Justin Madden's approval.
SS
The first model did not stack up commercially, so Council is currently in the process of amending the planning permit to allow more viable model.
Waiting on Minister Justin Madden's approval.
SS
I notice alot of units/flats/houses for sale in Spray St, Fairway St & Bradshaw St. Are they selling because of Freeway noise?
I looked at a few today and the Freeway noise was very loud.
I looked at a few today and the Freeway noise was very loud.
Have just come across this forum so have to learn how this all works! I have one IP in Richmond and am now looking at Frankston South as next place to invest. My interest has been bouyed by last years growth and a hope that F/Sth will continue to show compounding growth over the next few years. Toni and Harris you seem to have your fingers on the pulse re Frankston South. Do you think we will continue to see long term growth here or would I be better placed to keep looking closer to the CBD? Also what should I expect in terms of yeild in F/Sth? Is 4.2% too much?? Does anyone else have any advice they would like to share?? Grateful for all help!!! LizaToni and Harris know their stuff, particularly when it comes to Frankston, so make sure you pay attention soulfly3The depreciation side of things is *well* worth learning. Worth $13k to me.
Finally, thanks to Toni and Harris (and everyone else) who keep keeping us up to date with dealings in Frankston. (I have one IP in Frankston South).
Cheers all.
Hi Liza, welcome to Somersoft. I have to start by saying, I am no expert! My husband and I moved here 9 years ago and we have been passionate about Frankston ever since.
My last purchase was 12 months ago (Blaxland Ave., Frankston South), but have not purchased anything else since then. I personally consider all parts of Frankston will do well in the future, as to what time frame this will be, I don’t know. I would strongly suggest you read this entire thread to understand as much as you can about the area.
Unfortunately with rising interest rates, petrol costs, food etc, it is almost impossible to predict the future growth of any one area in the immediate future and this includes comparing one suburb to another. Long term however, I do believe this suburb has all the makings of a great area in which to invest, but again not sure that I am prepared to compare this to an inner city investment.
Harris would probably be the better one to ask as he has been investing alot longer and has invested in many more areas than I have and as such is in a much better position to answer this question.
As far as yield goes, I did look at a property on Foot Street yesterday. I understand this home has been on the market for a very long time (divorce). It is being marketed at $359,000 (4 bdrm, 2 bthrm, and carport.). It has been suggested to me by the agent, that you could ask for a rental return of around $335-345 given that it is very close to the high school. If you were to pick this property up at $340,000 (or less depending on your luck), using the $335 rental per week worst case scenario), should give you a return of around 5.12%
I am sure there would be others similar to this, but it was only curiosity that had me check out this property, as we are currently not in the market for another property.
Sorry I couldn’t be of more help.
Toni
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I talked to a few agents looking for a new investment property around Frank Sth, but the returns for some prop that have been in the market for a while in karingal look quite good. A couple of prop in Karingal area with rental return of 6.5% (i think one on wangarra rd) and another on Ashleigh rd with 5.8%.
Frank Nth has some dual occ blocks with yields close to 5.5%.. so overall there seems to be good value around.
Human
Frank Nth has some dual occ blocks with yields close to 5.5%.. so overall there seems to be good value around.
Human
Hi Toni,
Thanks for your info. Yes, I understand that without the benefit of a crystal ball it is difficult to acually predict what may come!! As you mentioned there are so many factors to consider but from your figures it seems that the yeild on rentals in Sth Frankston are pretty good. Inner city R'mond we are getting 4.2% for our place but the purchase price was a lot higher! So it seems FSth is a good market to get into with good yields and reasonable purchase prices. Have read the entire thread and am feeling more confident that this is the place for me to look.
Human, do you have any rental props in Nth Frankston area? Rent return looks good but was warned to stay away as tenancy issues may outweigh any gains? Interested in anyone elses experiences here?
Liza
Thanks for your info. Yes, I understand that without the benefit of a crystal ball it is difficult to acually predict what may come!! As you mentioned there are so many factors to consider but from your figures it seems that the yeild on rentals in Sth Frankston are pretty good. Inner city R'mond we are getting 4.2% for our place but the purchase price was a lot higher! So it seems FSth is a good market to get into with good yields and reasonable purchase prices. Have read the entire thread and am feeling more confident that this is the place for me to look.
Human, do you have any rental props in Nth Frankston area? Rent return looks good but was warned to stay away as tenancy issues may outweigh any gains? Interested in anyone elses experiences here?
Liza
rental yeild
Hi Soulfly,
this is how I work out the simple yield which is based directly on annual rent return divided by the purchase price ie
annual rent / purchase price x 100 = simple yield %
16640 / 420000 = .0396 = 3.96%
I also take into account deprieciation, cost of lending, expenses/outgoings etc to determine if an IP is a good investment
Hope this is explains it. Other people might do it different
Liza
Hi Soulfly,
this is how I work out the simple yield which is based directly on annual rent return divided by the purchase price ie
annual rent / purchase price x 100 = simple yield %
16640 / 420000 = .0396 = 3.96%
I also take into account deprieciation, cost of lending, expenses/outgoings etc to determine if an IP is a good investment
Hope this is explains it. Other people might do it different
Liza
Hi Liza, I have had rental properties here for 8 years and have to say i only ever had two problems that the courts have had to sort out. All three of my properties are being looked after beautifully. One property has had the same tenant for five years, another only just moved in last year and todate, the property is in better condition now than when they first moved in and the last pays fortnightly, but other than that no problems.
I really think it can be the luck of the draw. If your agent is careful in selecting the right tenant, i.e. making sure they have good rental history etc., I don't believe you would have any problems.
Toni
Thanks Liza thats seems pretty kool! that means mine would be 5.1%
Thanks for that!what would rate as a decent yield
as i have been checking out rent and purchasing prices in Langwarrin atm
Whats the traffic like at the end of the Frankston freeway during peak hour now that Eastlink is open?
A few weeks ago, I drove from Mordialloc on the old freeway and the traffic, after the Eastlink connection was banked upto Seaford. It was a saturday arvo so I am not sure if the problem related to people wanting to drive on the new Eastlink.
I have seen the traffic banked upto the nth frankston turnoff but never this far.
I believe this could be a big issue come Summer when all the peninsula traffic use Eastlink. Any thoughts?
A few weeks ago, I drove from Mordialloc on the old freeway and the traffic, after the Eastlink connection was banked upto Seaford. It was a saturday arvo so I am not sure if the problem related to people wanting to drive on the new Eastlink.
I have seen the traffic banked upto the nth frankston turnoff but never this far.
I believe this could be a big issue come Summer when all the peninsula traffic use Eastlink. Any thoughts?
I join the freeway at Seaford Road. I've been on there a couple of times now (since eastlink opened) and it hasn't been too bad. Traffic has probably increased slightly, but it's tolerable. I've been on at times between about 5:15 and 6:30.
