seaford vic gaining?

I'd have to agree BigBucks - gentrification is in full swing and as you say, properties are being swept up as soon as they appear. My intuition tells me (no data!!) that Seaford is going to become 'an address'. Mainly because of it's name and second because of facility.

Despite the injustice, Frankston will take a while to shake off it's name, versus Seaford (which no doubt is/was even more bogan), most likely because 'Seaford Shooting/Stabbing/Riots' was never in the headlines. (Tho I had to laugh at a guy in the news who drove drunk into a Seaford petrol station at 90 degrees to the usual direction and fell asleep for the police to arrive - if it was in Frankston it would have inspired another 'Insight' article lol).

'Seaford' is also one of those 'cachet' names imho. There was an article in the Age last year about 'hidden suburb names', with new suburbs within old suburbs being identified and made exclusive, hence becoming more valuable. (be interesting to see if 'I live in Belvedere' vs 'Kananook' vs 'Seaford' will become like the Brighton/Beach/South/Hampton game. How fast do 'Frankston' people correct 'I live in Frankston SOUTH actually. lol.

Be interesting also to see what influence suburb name has on prices etc. Probably 'Chelsea Wetlands Project' would not have sold as well as Chelsea Heights. Ditto Seaford (north) will do better than across the road in Frankston North and Carrum Downs most likely, though I see Carrum Downs is generally moving over 300k now as well.
 
JulieW said:
Is there any way of determining the relative values of areas within the suburb, or does this increase indicate that across the suburb prices have generally increased.
For instance someone posted that the St Kilda Footy Club development area has increased. (anecdotal evidence). Is it likely that 'hotspots' occur within the suburb which artificially raise expectations in 'cool spots'.?
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Hi Julie, a licensed buyers agent will have access to data showing all the sales in the overall area. If they are investment savvy and understand how to analyse a market for hot spots, calculating the difference in price growth from one sub section to another they should be able to provide you with that sort of information.
There are definitly good spost and not so good spots in Seaford to purchase and there is a big difference in capital growth between the good areas and not so good areas. I will post something a little later in regards to the better spots and provide a little bit of info about the arae for all those interested.

Regards lisa
 
An agent is pushing a friend of mine to sell in the Belvedeire area, telling her that they're going like hot cakes. She's had it for three years, purchased at 320k....agent is saying he can get 385k now.
 
i know of a property in the belvadere estate that sold for 425k in Chaquita ave Seaford in the last couple of weeks after the price range quoted was 390/415 k it sold in about a week and i am told that a few were after it.
Seems to be high demand for property in the Belvadere estate area as there is little else closer to the beach or other areas of Seaford at the moment.
There seems to be a few units in the golden mile area of Seaford nearing being completed and more projects in progress that may ease demand if and when they are offered for sale.
Market conditions are positive at present and once again buyers are looking for not only a house or unit in the area but a nice bayside lifestyle at an affordable price.
 
well that's encouraging indeed! Gentrification can only help bed down the suburb and raise values.

Just anecdotally, I've been keepin my eye on Carrum Downs and it seems that the sub-300 market for houses is now the sub-300 for units. Seems to have been an increase in house values there of about 10 percent since last year based on realestate.com.au offerings.
 
marg4000 said:
Bought around Aug 06 for approx $370K down from $399K. Less than 400m to bay and rail station/shops. Got good price as vendor was building a new home and son agreed to 4 month settlement. No problem to him as he was keeping his previous PPOR as an IP.

Bank valued at $495K end 08.
Marg
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Nice marg $125k for taking action now thats results!
 
Hmmmm...... Seaford. Wish I had bought more properties in Seaford.

We bought 3 yrs ago at $265k, now valued at $380k and we are yet to develop. We got priced out for our next IP and had to buy at Frankston North.

The only thing things that worries be a little about it being a great place to live is sea level rise (deniers please don't start!) and the mozzies from the wetlands. Apart from that, its a great place to be. Demographic change is already happening, and has a great base to start from: surf club, cafes, library, rsl, train station, creek with walking track, etc etc.

Seems to be a few developments happening there, we'd sell only when there is a shortage of townhouses.
 
On the beach side of the freeway between the wetlands and the beach. That side of the freeway is a must in my opinion. We did the same in Frankston. I think that big hunk of asphalt and concrete makes a huge difference in price and psychology when it comes to thinking about Seaford. Although, prices have risen on the other side of the freeway too....
 
Agreed that Beach side is preferable, but Im trying to prove that the upper side may have just as good capital growth in the future. This is taking into account that prices beach side may have exceeded alot of people's budget. Plus there is some good development happening in upper seaford now.
 
landlord78 said:
We bought 3 yrs ago at $265k, now valued at $380k and we are yet to develop. We got priced out for our next IP and had to buy at Frankston North.
Click to expand...
Don't worry, you didn't do too bad to get into Frankston North; you certainly wouldn't get much there for that price now. Although I always believed the other pockets of Frankston (South, Central) would do better, the North is more than holding its own from what I've noticed. So you can pat yourself on the back landlord78, you've done well!! ;)
 
Very interesting ramzd. Do you think this is indicative of a desire for that type of stock in that area? Seaford seems to me a great place for semi/retirement - presenting quite good facilities and beach locale and that would indicate units are a bit more desirable. I've noticed good prices for units there over the last six months, but this is the first indication I've noticed around Belvedere area.
 
Can't say with certainty Julie W. What I can say is that the area is being described as `a highly desirable pocket' of seaford by Agent's `For Sale' adds.

Yes, Agents can be full of manure, but a friend of a friend, who is an agent, was telling me the same thing.

I dont think it is weighted either way towards houses or units.
 
Just for interest I've been pondering adding a granny flat to my house in that area. Cost around 70k and REA says it could get 200 pw due to a dearth of single person accommodation in the area. Any opinions?
 
Ah, yeah! Go for it! What a great idea.

Personally, I wouldn't want anyone living in my backyard, but if you can enclose it for privacy, why not.
 
Seriously Godees,

Regardless of the facts, the science and the future.....

Global warming and sea level rise will have an impact on insurance overheads and planning regulations. It's already happening in Gippsland and some places in NSW.

It is certainly not the most vulnerable, but it is a factor that cautious investors should be aware of.
 
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