VIC Broadmeadows or Frankston?

I think it may be more about "jumping on the bandwagon". Frankston has an average days on market around 30, Broady around 70. In the short time I have been looking Frankston prices appear to have risen about $50k. Id say its accelerating whereas Broady seems static...which means more room to negotiate.

Methinks it may be as simple as buying at bottom of market (broady) vs buying on its way up (franga)

 

I would suggest a few reasons:
- Already experiencing solid growth, unlike Broadmeadows and its neighboring suburbs.
- Proximity to the beach
- Larger hub
- Council investment in the area and big push to clean the Frankston name.

The one positive Broady has over Frankston is proximity to the CBD but falls short in all the other areas except the fact you can get more bang for your buck.

The Hume council website is pretty dissapointing in the upcoming projects section I must say.

 

Follow the money trail. Developers are snapping up old houses on large blocks in Frankston. Chinese investors are moving in - they see the infrastructure and beautiful beaches, a university and TAFE plus the state's best performing high school and can't believe how relatively cheap Frankston is. The gentrification of Frankston is happening so fast - old dumps are making way for new townhouses. $70 million has been spent on the South Eastern Water building on Kananook Creek which has brought 700 employees to Frankston many of who will relocate and buy properties in Frankston. $50 million was spent on the new aquatic centre. The government is now spending $63 million on the redevelopment of the Frankston Station precinct. You know it makes sense.

 

not sure where you got the info the best school - the best ranking is 93 for frankston high school. As for South East Water (i do not think there are 700 employees - more like 500 employees - i used to work for them when they were in moorabbin - already 70% of them all live in the peninsula area). Chinese investors? maybe one or two may buy in olivers hill . But it is definitely no glen waverley, preston high street, footscray. i think there are more chinese investors in lalor than in frankston. THere is also the rail road crossing projects which is being undertaken hence no more express trains from frankston station to CBD. Anyone who is looking to stay there and has a job in CBD (there are many of them who do this better add another 2 hours to travel time).

VCE School Ranking - 2015

 

@melbournian, what are your thoughts on broady' future growth, potential?

 

personally i have been to the area and didn't really like it. That being said, i haven't been to see properties in the area but more so glenroy (next door) and the market is pretty hot in that suburb. i think it will flow over. Distance wise to CBD it is closer and blocks maybe the cheapest around the radius to CBD. even braybrook block in the west went for 800Kish last week.

 

You can nit-pick all you want but the fact is Frankston is moving fast. We are comparing Frankston and Broadmeadows which are the bottom end of the market not the suburbs you mention which are getting towards the upper end of the market. Investors in Frankston are land banking older properties on large blocks with development potential they are not interested in multi-million dollar properties on Olivers Hill. Yes there is short term inconvenience for rail patrons but when its finished it will be fantastic.

 

Hi melbournian

can you refer me to a source which says how a removal of level crossings will add extra travel time to an exisiting schedule? in essense any upgrade is to reduce travel times and not increase them.

 

What i meant is when there are works, the express train has been canned, hence it takes longer back and forth. I used to study in Mt eliza and take the train from frankston to CBD. back in the day, there wasn't that many express routes either, so it takes a very long time. there are worst now as buses will be used to replace and some routes and you going to have to pass the multitude of lights on nepean

 

not nit picking, just you made the call that frankston has the best schools in the state when it's highest ranking is 93?. Anybody who bought "nearly anything" in victoria would have made money with growth state wide. But you are right that frankston schools maybe better than broady. As for landbanking, you were saying the chinese were buying up blocks in the area hence the comparisions to other suburbs which are similar to buying patterns. Short term as in 6 months or possibly 2 years? a lot of things can happen in that time period.

 

Oh ok. however this is only until crossing are removed which wont be more than a year. after that trains are even faster i imagine. west is undergoing metro and distributor which can be chaotic for another 5 years.

 

I hope so - taking out a crossing is not exactly building a house. i take it you bought in frankston? hence the interest.

 

not in frankston but close by burb. however did not look at crossing project or anything of that sort. just wanted a mix instead of One Direction.

 

Definitely potential for Broadmeadows to gentrify in future but that would be a really long term bet.

Frankston has finally started gentrification after almost 10 years of hype. With prices now moving upwards (along with infrastructure) I would certainly pick Frankston for capital gain.

 

If Frankston is moving upwards in prices, isn't to late to buy in now?
For those that already own there that's great, but do you really want to buy into a hot market.

 

Hot or Heating do you think?

That said for the cash I do after more research like St.Albans. Shares the main similar trait with Franga and Broady which is basically a tarnished name. I do however think it's the closest of the bunch to having its name cleaned based upon the ripple effect of neighboring suburbs who have now turned the corner.

In terms of future potential I also think it has them both covered. If I had to put my money somewhere in that price bracket it would definitely be St.Albans

 

Hot or heating not sure. I don't know how days on market have changed over the previous months, but currently sitting at 39 days which is great. And 12 month growth has been 13.6% which is excellent. I question franga as I think it has already moved and should already own there.

I agree with your comment on tarnished names, all three are known for it. I just can't get past 16km from the CBD, on huge blocks of land. With population of melbourne hitting near 100,000 a year, Broady is very affordable for anyone getting into the market. It will do well.

St Albans has also done excellent, 15% past year, days on market are showing twice that of franga, so perhaps less pressure and heat in the market.

 

I agree with you but (here comes the bias) 'something' tells me Franga's on a roll. All the works and political notoriety etc. Plus, it last peaked in 2010 - only 6 years ago. Still got 2017 to go? There's my cyclical-pattern bias coming into play. Don't blame me if it all cools down in spring!
I think a lot depends on the councils in these 'gentrifying' areas. Franga wins hands down in that regard. Broady, Sunshine, Albans etc might be able to thrive later simply because of proximity to city and existing infrastucture. Ideally, I'd like one there too.
Why not look around and take the best deal you can get in either area. If you can't get a good deal, then go Franga.

 

@WattleIdo you already own in franga. Would you buy in franga at today's prices if you didn't already own.

 

No way, couldn't afford it!
I'd buy a unit in Sunshine, that's what I'd do. Or Franga. That's on a single income....