seaford vic gaining?
- Thread starter bigbucks
- Start date
If someone wanted to purchase in Seaford now, is it likely they have missed the boat entirely for CG purposes? (over the short term 2-4 years).
Great question & only time can answer it correctly.
Look at other suburbs near the the bay Seaford has held it's own with great gains over time.
Realistictly is the cheapest bayside area close to Melbourne.
Allways opportunities although research pays dividends.
As more stock comes onto the market opportunities arise, I'm looking for value
Maybes morgagee sales etc,also never overpay look for the value.
And think of what it will cost to update or repair if required.
Bottom line is I always make profit if I resell,otherwise is a pointless exercise.
Look at other suburbs near the the bay Seaford has held it's own with great gains over time.
Realistictly is the cheapest bayside area close to Melbourne.
Allways opportunities although research pays dividends.
As more stock comes onto the market opportunities arise, I'm looking for value
Maybes morgagee sales etc,also never overpay look for the value.
And think of what it will cost to update or repair if required.
Bottom line is I always make profit if I resell,otherwise is a pointless exercise.
Actually its one of the cheapest beachside suburbs anywhere in major city Australia, with a good proportion of houses on dual occ sites which can be developed with a minimum of fuss . Buying a cheapie (preferably on a block of 600sqm+) will certainly reap rewards. Hard to go wrong if one buys cheaply.
Anyones thoughts on this property being very close to beach at 440k
http://www.realestate.com.au/property-house-vic-seaford-106689941?activeSort=relevance-random
http://www.realestate.com.au/property-house-vic-seaford-106689941?activeSort=relevance-random
The latest quarters median from REIV is in and is at $425,000. Clearly this house is cheap given its location. The icing on the cake would be if it were on a dual occ site - many older homes in Seaford are on potential development sites (600sqm+)
http://data1.reiv.com.au/trendchart/default.aspx
steve00 thats what has exactly happened but only on a minor scale in comparison to established houses seems like a lot of the old homes are not worth to renovate so the developers prefer to pull the older homes down & reap the profit from unit development.
Seaford has become highly sought from a vast range of people these may include investors,families,singles , tradies beach lovers & even the huge bike riding community that use napean highway on the weekends,buisness people who operate from the factory & office zones.
lets face it where the hell can you buy beachside at the prices being asked so close to melbourne.
even at phillip island the prices are higher than seaford.
i can tell you that its a lifestyle thing that a lot of people look for when they purchased in this area.
just venture up to the beach on a sunny day near safeway on napean highway and check it out, it is an affordable beachside area still.
This is good in a way as its bringing in better tenants and a younger more middle class demographic that demand new, clean and modern housing, on the other hand there is potential this will damage the suburbs feel. This is particularly concerning with many developers from outside the area building cheap and quick, brick and tile units rather than housing that suits the traditional Seaford beach shack/house.
I would love to see what council planners have in mind re if there are limits to how unit-ed they are willing to let Seaford become and if there are strict building guidelines, i.e. tin roof, weatherboard/use of natural timbers on exterior. Sadly with more units = more rates and therefore council incentive to allow more units.
The over unitisation is something i am very concerned about re longterm growth - or is this going to happen everywhere in greater Melbourne?
very interesting thought Ramzd. The downsizing of dwellings as the empty nesters seek lifestyle changes - and close to beaches housing would be of prime nterest to many of course. The 'soul less' townhouses will surely be low on the list and units with garden space to potter and entertain will do much better I'd think.
Look at suburbs like Elwood, Carnegie, Prahran, St Kilda or even Chelsea (where over half of all homes are units).
This appears not to have reduced the capital growth of these areas.
Very true Spiderman. You are one of the more respected contributers here. Where in Melb do you own your IPs? Or where are you currently looking?
I would say some of the above mentioned areas have become somewhat overcrowded & somewhat unattractive through overdevelopment.
However plenty of money has been gained through speculation in these areas
Through capital growth
These areas are not exactly Mt. Eliza
There are a few issues with Seaford and Frankston that may explain why the value of these areas are not as high as some people think it should be.
a) Assuming there is little traffic it takes around an hour to drive to the city.
b) To get to the city by car the quickest way is through 2 toll roads. Eastlink and City Link
c) Besides maybe Pakenham, suburbs that are near a train station that runs on a major line, it takes the longest to the city.
d) As for the beaches, they are not surf beaches, but rather a bay. I could imagine people from Sydney and the Gold Coast laughing about what Melbourne people call beaches. It's better to describe it as a bay, rather than a beach, as it's nearly impossible to surf on it.
e) The area has one of the worse reputations in Melbourne. Many people don't want to be near the area.
Frankston and Seaford have lots of potential. However considering the above points it's not surprising that the median house prices in the area are below the Melbourne average. Due to the distance from the CBD, I can't see the median house price being on par with Melbourne. The beach factor is not strong enough to push it over the median.
a) Assuming there is little traffic it takes around an hour to drive to the city.
b) To get to the city by car the quickest way is through 2 toll roads. Eastlink and City Link
c) Besides maybe Pakenham, suburbs that are near a train station that runs on a major line, it takes the longest to the city.
d) As for the beaches, they are not surf beaches, but rather a bay. I could imagine people from Sydney and the Gold Coast laughing about what Melbourne people call beaches. It's better to describe it as a bay, rather than a beach, as it's nearly impossible to surf on it.
e) The area has one of the worse reputations in Melbourne. Many people don't want to be near the area.
Frankston and Seaford have lots of potential. However considering the above points it's not surprising that the median house prices in the area are below the Melbourne average. Due to the distance from the CBD, I can't see the median house price being on par with Melbourne. The beach factor is not strong enough to push it over the median.
