seaford vic gaining?

So the original issue that was discussed in this thread is will St Kilda moving into upper seaford improve property prices???
 
For those who want to see the difference in wealth status in seaford only need to compare the shops at seaford village to the other end near Frankston dandenong road near mcdonalds try a visit there about 6pm on Friday or on the weekend it will give a real insight into this true redneck area.
I'm not joking but this lace seaford is one of the last true redneck suburbs.
I will also say I'm proud to live in the area.
 
Wow 795k had to double check the property of this status was in seaford.
http://m.realestate.com.au/property-house-vic-seaford-106853637
Anyone's opinion on if this type of development is a good proposition for the lower end of seaford.
I'm wondering if there's any buyers in this price bracket,given it's a lower income status area.
Hmmm, the house isn't that great but they have a private tennis court...
Should this happens on quiet street next to the beach(as advertised!) , 795k will be a good price.

Unfortunately this one is at the wrong side of the freeway. "just moments to the beach???" BS!
Good luck with getting that price...
 
Wow 795k had to double check the property of this status was in seaford.
http://m.realestate.com.au/property-house-vic-seaford-106853637
Anyone's opinion on if this type of development is a good proposition for the lower end of seaford.
I'm wondering if there's any buyers in this price bracket,given it's a lower income status area.
Fortescue Ave is hardly the lower end of Seaford, and this is a huge block of land in a tightly held street. A falling down 2 br weatherboard on Park St sold immediately last week for $494k, so it seems a block of land is now worth roughly 250k per allowable unit if it is in one of the desirable streets. Personally, I would hold the one in Fortescue , and not develop it. Stand alone houses are set to become as rare as hens teeth at the rate they are being knocked over.
 
Fortescue Ave is hardly the lower end of Seaford, and this is a huge block of land in a tightly held street. A falling down 2 br weatherboard on Park St sold immediately last week for $494k, so it seems a block of land is now worth roughly 250k per allowable unit if it is in one of the desirable streets. Personally, I would hold the one in Fortescue , and not develop it. Stand alone houses are set to become as rare as hens teeth at the rate they are being knocked over.
this property is not located at fortescue avenue is at molesworth street.
another property in fortescue is listed at a similar price.
 
Fortescue Ave is hardly the lower end of Seaford, and this is a huge block of land in a tightly held street. A falling down 2 br weatherboard on Park St sold immediately last week for $494k, so it seems a block of land is now worth roughly 250k per allowable unit if it is in one of the desirable streets. Personally, I would hold the one in Fortescue , and not develop it. Stand alone houses are set to become as rare as hens teeth at the rate they are being knocked over.
Totally agree that prices on land in the desirable streets beachside of freeway seem to be at 250k per each unit site however this may be based on 300 sq metre block per unit it could be a lot more than 250k if say it was 400 sq metres per unit block.
Also need to consider when looking at values is adding the per unit site value then adding the existing house i.e unrenovated or renovated.
i also would look at the most recent council rates notice 2010 valuations
A:site value
B:capital improved value
i know a few in the kananook fortescue area with average houses on say 600/800 sq metre blocks now looking like 650/750 k this is a huge expectation considering that the same properties may have fetched <500k 2 year ago.
I also wonder what these stand alone houses on say 600 sq metre plus blocks will achieve once they have units/townhouses each side on adjoining properties.
Another interesting thought might be if these properties are purchased for development what profit margin may be expected after all costs.
Also would families looking to live beachside pay these higher prices when having to compete with developers.
 
I can also assume that at 920k plus could be under replacement price.
Would be very interesting to find out the capital improved value as per 2010 council rates certificate.
 
The expensive stuff in the past was all on the beachside of Seaford. However, the dynamics are starting to change change and there's a lot more interest in the other side of Seaford - in places where working-class people once lived. Still quite a few bargains to be found.
 
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