seaford beachside under 400k
- Thread starter bigbucks
- Start date
Just be aware of the caravan park, it is pretty dodgy and has day-release prison visits there. Check out the milk bar on the other side of the creek also to give you an idea of the area. It looks like Fort Knox!
There are some diamonds hidden away in there though. Not sure about the "golden mile" tag though, did a agent say that?
There are some diamonds hidden away in there though. Not sure about the "golden mile" tag though, did a agent say that?
That's fine, don't need to take my advice but stop following me around posting useless comments.
The question was asked regarding the price. If a property is sub 400k right next to the beach then there is something wrong with it. If you are happy with a property next to a caravan park that hosts prison visits, then yes, it does represent outstanding value.
The question was asked regarding the price. If a property is sub 400k right next to the beach then there is something wrong with it. If you are happy with a property next to a caravan park that hosts prison visits, then yes, it does represent outstanding value.
http://www.realestate.com.au/cgi-bi...r=&cc=&c=56460786&s=vic&snf=rbs&tm=1250682059
Spewing I couldnt organise finance quick enough. What a deal! Right on Beach Rd
Spewing I couldnt organise finance quick enough. What a deal! Right on Beach Rd
what street was it on???
This is a distinctive aspect of nearly all beachside properties in Seaford. Is it in Beach Grove (Melway 99D2) or along Nepean Hwy further south?
While not a bad price, and probably the cheapest near-beachfront property within 100km of the Melbourne CBD, it does have a number of negatives, eg:
* 1 bedroom flat (like you'd find in Elsternwick or Prahran). The southern part of Seaford is swamped with 2br villa units, some with courtyards. These are immediately to the west of Kananook Station and house a lot of low income earners/low rent payers. This may put a limit on how much rent could be charged for a 1br. (though the unit might be OK for short-stay if there's a market for that in the area). Rents in Frankston start from $140pw for a 1br unit, and Seaford might be a touch more. But unless greatly improved I can't see it getting much more than $160pw as 2br units are available for a little more than that.
* Position. This is a problem with Seaford, Carrum (and even Parkdale and Mentone) rather than that property. Because the Nepean Hwy/Beach Rd hugs the dunes there is no property on the 'beachside of highway'. Down there 'beachside' is beachside of railway or beachside of freeway - good but not as good.
In contrast Long Island (Frankston), Bonbeach, Chelsea, Edithvale, Aspendale and Mordialloc have genuine beachside homes where the streets all run down to the beach rather than form a barrier between your house and it. If you want to walk to the beach (rather than just look at it) that's where you buy.
* Potential for value-adding. There's certainly some, especially if a short-stay rental market that is willing to pay more exists. Plus an element of uniqueness. But despite the position the prospects may be less than (say) a tired but sound 2br unit with a substantial courtyard and maybe street frontage and a garage.
* Position. The ad didn't give an address, but I would value something near Seaford Station/shops (it's a nice village feel) higher than somewhere south of Seaford Rd or behind Kananook Station (which is not well regarded and is not walkable to local shops). The northern part also has a scarcity of units compared to the Frankston end, which as noted before is very highly supplied.
Though the place is good value and a good 'buy and hold' investment, it's still likely to be negatively geared and the improvement prospects are perhaps slightly less than something a little bigger or with more that can be changed.
Very interesting opinions on seaford.
yes i agree the property closer to the seaford village shops & seaford station are in higher demand, however there is a tightly held belt where properties sell as soon as listed in most cases & at a higher price this area is known as the golden mile area of seaford it runs the distance of fortescue & kananook avenues is a little like mt eliza the feel nice tree lined quite streets with'n a stones throw of the beach.
yes i agree the property closer to the seaford village shops & seaford station are in higher demand, however there is a tightly held belt where properties sell as soon as listed in most cases & at a higher price this area is known as the golden mile area of seaford it runs the distance of fortescue & kananook avenues is a little like mt eliza the feel nice tree lined quite streets with'n a stones throw of the beach.
Hi Steve, can you quantify your statement?? Why would you be asking for trouble if you're buying upper seaford??
I know at least two landlords who have properties within close vicinity to belevediere park (about 800m in from the St Kilda development), and have had great tenants, and have experienced 10 - 15 percent growth per annum. Where is the trouble in that?? Sure, beachside is the favoured part, but I think when people start being priced out of finding something with 800m of the beach, will look a little further in and discover that they arent really that far from the beach anyway!! It's the ripple effect, and its happening everywhere....the suburb next to the classier suburb suddenly becomes the favoured location.
I know at least two landlords who have properties within close vicinity to belevediere park (about 800m in from the St Kilda development), and have had great tenants, and have experienced 10 - 15 percent growth per annum. Where is the trouble in that?? Sure, beachside is the favoured part, but I think when people start being priced out of finding something with 800m of the beach, will look a little further in and discover that they arent really that far from the beach anyway!! It's the ripple effect, and its happening everywhere....the suburb next to the classier suburb suddenly becomes the favoured location.
my comment was about seaford freeway side in general. you never live over there if you want to buy over that side to have a IP thats all well and good but i'd never live over that side cause the amount of trouble over there. my dad used to live in portsea but decided to move to seaford to be closer to work and he has lived on both sides of seaford has told me if your going to invest in seaford property be beachside! i bought my first house in somerville & just sold it and made 45k in 1 year and i did practically did nothing to the house. and at 25 i can buy a 500k house in seaford w/ my partner. if i had the cash i'd invest in sommie again cause its booming now and for the people has have an IP there your very smart! HOLD ONTO IT!!!!! so much has been going on there
I don't think the trouble is limited to over the freeway side.
I do however think that the `troublesome' type of demographic are slowly leaving beachside seaford (and will never come back), and I think the upper seaford side will soon follow. One just has to look at the new development in upper seaford to recognise this...i.e the new units/ townhouses.
I do however think that the `troublesome' type of demographic are slowly leaving beachside seaford (and will never come back), and I think the upper seaford side will soon follow. One just has to look at the new development in upper seaford to recognise this...i.e the new units/ townhouses.
Thats the most ridiculous thing i've heard, when was the last time you went to Seaford? Places change, you need some foresight mate. Not everyone can afford beachside...
