Seaford thoughts?

[Tom_84]

What are people's thoughts on Seaford for an IP? Units in the area are similar to Frankston at around 229-290K with similar rental income. Does anyone think it may perform better than Frankston, of much of a muchness?

 

[Bigtone]

What are people's thoughts on Seaford for an IP? Units in the area are similar to Frankston at around 229-290K with similar rental income. Does anyone think it may perform better than Frankston, of much of a muchness?

too many units there already and every house that sells over 600sqm gets cut up and more units

a house on 450-500sqm in seaford should perform well long term as scarcity sets in

 

[grand dad]

too many units there already and every house that sells over 600sqm gets cut up and more units

a house on 450-500sqm in seaford should perform well long term as scarcity sets in

Correct. Much of Frankston, Frankston North and Seaford are becoming a paradise for developers.

The smart money is buying up redevelopable sites and eventually selling to developers or developing themselves.

Buying into Frankston inevitably earns investors a few derisive laughs. But almost half the blocks are on redevelopable sites. Not too many suburbs can claim the same. Those who laugh last, as they say, laugh the hardest.

 

[roypropertyinv]

Buying into Frankston inevitably earns investors a few derisive laughs. But almost half the blocks are on redevelopable sites. Not too many suburbs can claim the same. Those who laugh last, as they say, laugh the hardest.

I would say I maybe wouldn't fancy living in some parts of Frankston, but as an area I would say there is a lot of potential to make some money.