seaford vic gaining?

Discussion in 'Where to Buy' started by bigbucks, 15th Aug, 2009.

  1. Michael Yardney

    Michael Yardney Member

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    Just a thought...

    Why would a football club moving to Seaford increase property values?

    Are property prices high around Windy Hill in Essendon or did they rise when Waverley park was built in Mulgrave.

    If anything this type of development may depress property values
     
  2. meconium

    meconium Banned

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    When something comes off an extremely low price base, as is the case with Seaford, virtually anything can be a catalyst for capital gain.

    Seaford and Frankston are among Australia's cheapest major-city beachside suburbs, both are priced well below Melbourne's median.

    For barely $350,000 one can buy a solid home on a large subdivisable block in either Seaford or Frankston. Try doing that as cheaply in any other beachside suburb? Impossible.

    The arrival of the football club is an indication of the smart money moving in.
     
  3. Michael Yardney

    Michael Yardney Member

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    Thanks - I guess my point is people don't want to live near a footy club with all the noise and traffic - do they? Footy clubs haven't pushed up values elsewhere
     
  4. Peter Parker

    Peter Parker Member

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    I agree with this; the presence of the club at Moorabbin has not made that suburb particuarly sought after.

    Though it's unlikely to be the club's fault, Moorabbin's average property values are depressed compared to surrounding suburbs (eg Bentleigh, Highett, Hampton East).
     
  5. pickle pickle

    pickle pickle Member

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    In my opinion Seaford is really undervalued. Besides schools, I can't understand how Seaford can't nearly be on par with Mentone. Yes Mentone is closer to the city, however by car most of the time Seaford would be a quicker drive than Mentone because of East Link.

    Give it 10-20 years and Seaford will be well above the Melbourne median price.

    As for Frankston North (which we have an investment property) hopefully it gets the draps that Seaford gets and becomes closer to the median house price of Melbourne.
     
  6. Bigtone

    Bigtone Member

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    While I think Seaford has lots of potential to continue growing ( i have suggested many people buy there over the last 4 years especially FHOB's) i believe u r being very optimistic suggesting Seaford will be above the melb meduim. It needs to outperform the market by 50%, can't see it happening and it does not need to for it to be a good place to invest.

    Seaford is close to Frankston North (Pines) and Carrum Downs, Mentone is bordered by Parkdale, Cheltenham and Beaumaris. Mentone is closer to the city, better schools are nearby, there are better quality homes in the area, higher average incomes and starting way above the medium I can't see how Seaford could ever catch up in the foreseeable future.

    I do think St Kilda moving there has already had a small benefit on prices and will continue to do so. Not much noise and traffic at a training venue, normally no more than 70 people there at any one time:)
     
  7. maccaz69

    maccaz69 Member

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    I can't see that happening either.....some of the houses in Mentone are absolutely stunning and there are much better shopping facilities there too - i'd say about 10 times the number of little shops and all within easy walking distance to the beachside of the highway (I don't really consider the other side Mentone as such ableit technically Mentone, bit like beachside and non-beachside seaford).

    However I think Seaford will close the gap over time, even markedly close the gap. Carrum Downs and Frankston North are a problem....but patterson Lakes is also right near Carrum Downs and it doesn't seem to have held it back much. And look at Highett people used to bag out Highett and not want to be anywhere near it but everything changes over time as wealth moves in and the lower socio-economic groups are pushed further and further away probably to cranbourne next. I still think that Seaford will appreciate more on what Frankston will offer in the future and besides I think that most people of beachside Seaford really think that it is a separate suburb to non-beachside anyway so for them Carrum Downs and Frankston North are really 2 suburbs away :p
     
  8. The Donners

    The Donners Member

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    So why do people want to live inner-city then?
     
  9. The Donners

    The Donners Member

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    I've still had 21% growth in 7-8 months. Just sayin'...
     
  10. maccaz69

    maccaz69 Member

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    Yes I think an AFL footy club base/training ground with facilities not only gives a suburb more of an identity & exposure but the facilities are also open to the public so win win really.

    Yeah can't argue with 21% growth! I wanted a ip there a cpl of yrs ago but i've missed the boat in franga nth now. The only problem with Seaford v Frankston North is the driving factors for capital growth from say 150k to 250k range are different from those at say 450k+. I'm not sure that F Nth going up will really have any affect on Seaford at all. However if F Nth hits 350+ I think it may because then it will be attracting at least some wealth to the area which generally leads to renovations & less unemployed/centrelinkers/commisioners etc which it has now.
     
  11. SeafordSunshine

    SeafordSunshine Member

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    I hope you may be able to give some advice

    Never sold a property before!
    Hello Somersofters,
    I am looking at selling my investment property, and as I have never sold a property before I would like some advice, please,
    It is, you guessed it , in Seaford, an old 2br house on 680, beach side of the tollway. and train lines.The tenant is on an expired lease.
    What should I expect of the agent? How many average days on market?
    fees involved,$ to pay before sale, advertising, tax, tenants rights as to inspections, and after the sale, for sale signs
    Should I go with only one agent,( the current agent is quite pro- tenant)
    I think I don't want to auction as it may be more of a 'down going' market at the moment.... any words of wisdom will be appreciated!
    Cheers and thanks for your advice,
    I really like this forum!
    Seaford Sunshine
     
    Last edited: 11th Nov, 2010
  12. maccaz69

    maccaz69 Member

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    Hi,
    I'm not an expert in selling properties but from what I hear grab a booklet from ian reid vendor advocacy its free and helpful. Don't go with the first agent but don't go with the highest price either just be realistic...There was a good example recently in seaford a property was listed at a totally unreasonable price of over 600 when it was worth around 560/570 it eventually had to be reduced to 500 to sell; greed turns off buyers and once a property has been listed for more than a few wks it becomes stale and does't move. Besides if an agent feels forced to market a property well over its price the agent will not waste a minute trying to sell it because he knows it is unattainable. It also probably isn't a great time to sell in seaford from what I have seen recently....if you don't need to sell I would probably hold off we are in uncertain times at the moment and things could get worse before they get better who knows! A developer is the most likely purchaser for a 2br block > 600m so your property's demand will directly reflect this industry I would think. Good luck with it!
     
  13. Peter Parker

    Peter Parker Member

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    Get the booklet by all means but be wary that Ian Reid preaches a method of selling based on 'buyer enquiry ranges' and 'set sale' that may be confusing to buyers at best and seen as misleading at worst.

    A detailed critique of this approach appears here: http://www.lawyersconveyancing.com.au/news/045_gazumped.asp
     
  14. maccaz69

    maccaz69 Member

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    Hhhmmm that is interesting isn't it? I have heard some of his idea's which seem to make sense to me but I dont agree with this "Gazumping" clause thats abs bullsh*t. Most purchasers have their contract reviewed by a solicitor (I would hope!) so this should come to the fore then I guess but it is certainly shifty and dishonest and i'm sure that any purchaser with any amount of common sense would walk away from a vendor trying to sell under these terms = lost sale.
     
  15. bigbucks

    bigbucks Member

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    seaford market still has some heat.

    87 fortescue avenue seaford

    quoted range 395/445k

    sold at auction in spirited bidding at 520k

    wonders never cease to amaze.

    still quite a few people in this price range prepared to dish out that sort of money.
     
  16. bigbucks

    bigbucks Member

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  17. bigbucks

    bigbucks Member

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    Nothing under 500k obtainable in the golden mile paris end of Seaford now.
     
  18. bigbucks

    bigbucks Member

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    Nothing available beachside area of Seaford for 350k on sub divideable blocks.
    in fact you might even struggle to find anything under the 500k that is beachside.
    I think you are refering to the Belvadere estate area.
    This i feel presents has many oportunities up to 400k, however this is a long walk to the beach.
    There is a huge demand to buy beachside at this time of the year & the beachside area of Seaford is often sought as a lovely location to live near the bay with its crystal white sand beaches and lovely clean blue waters.
    Just visit Woolworths/safeway on a hot summers day the place gets packed with bronzed beauties.
    Seaford this time of the year is Party town.
    Seaford rocks.
     
  19. meconium

    meconium Banned

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    The demand for houses on dual occ sites ie. over 600sqm
    is very high, even in non-beachside Seaford.
     
  20. bigbucks

    bigbucks Member

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    i think we are also seeing down graders from the more pricey areas choose this area as a really nice place to live.
    Some people even consider it to be more pleasant than chelsea etc.
    i think they are cashing in on the high values and paying much less to be still in a great location.
    even know peop[le from glen iris that have moved here!