VIC Broadmeadows or Frankston?

Lol drive around these areas and you will then know why. Having said that I have just bought an IP that we are renovating in the west, and I have to say I love how convenient it is being 15kms to the cbd, but already we have issues with crime (squatters staying in the vacant property next door), break ins and junkies returning every night to steal the neighbours junk (breaking down our gate, taking it off its hinges etc to gain access to the neighbours house through our yard (Neighbour is an extreme hoarder which we didn't realise until after getting the keys in (his house just looked like the garden was overgrown). I do feel uneasy being in the area alone. I live in the South East and the vibe is completely different. Sth East is like a different world to some suburbs in the west.

 

I think you can still get into Carrum downs at a reasonable price, I was there only a few weeks ago and liked the feel of the area way better then frankston north. There has been a few 3bed two bath coming up in Carrum downs for under 350k they're rare but it is achievable.
I would like to look into deer park next to see what it has to offer and surrounding suburbs.

 

Do you think the older brick and mortar houses are a decent investment then or in your opinion would it be far preferable to go for a new place?

 

This really depends on what you need. Newer houses have heaps better depreciation and can help it offset negative cash flow, main thing with new is less hassle with maintenance. I personally like the older properties on a block big enough to put 3 new places on, minimum 2 if you can keep the existing house on it and subdivide and put a new one at the rear or side. If you buy new, you're buying at a premium price though, and probably a smaller block without a chance to add any other dwellings.
If you're buying in broady, big block/old house is king. Otherwise if I was going to spend a premium price on a new place without land to build later, I'd rather use that money and buy in a better location.

 

If you don't mind may I know the suburb name?

 

Investors swoop on Melbourne's health black spots

 

Well, good to see the Grattan Institue's comparison and contrast of the two areas. But as fr as the healtu of residents goes, I don't think property prices will affect them. They're already renting, most of them. In fact with the higher volume of sales, rents will probably stay quite flat and landlords will want to keep their tenants. And in Frankston, the health facilities are pretty good, I believe. I wonder if there is fluoride in the water - makes such a difference!

 

Well..a couple of the 'local' agents in neighbouring Carrum Downs claim over half their private treaty stock is being purchased by NSW buyers sight unseen. I've had a few now where I look at the internet ad say Tuesday and its sold before Saturday. But last couple of auctions I've attended down that way have had ~150 people in attendance (though only 5 or 6 bidding).

Irrespective of who's buying, the market could only be described as hot now. Though one thing I have noticed with a couple of properties - they have been 'under offer' then back on sale. One property in particular has had 3 or 4 journeys through the cycle.

 

Never seen so little stock available in Frankston. Spring sunshine will make it sizzle.

One thing NSWelhpeople have to be careful of is that pre-approval is not necessary in Vic, whereas it's something we take for granted. Being aware of this should give a slight edge in bargaining power.

 

What 'pre-approval' are you referring to? Finance? And who gets the edge? Given all the majors are spruiking their pre-approval offerins I'd be surprised if anyone these days went property shopping without Finance pre-approval.

 

Why you'll wish you'd have bought a house in these Melbourne suburbs by 2026

 

You mentioned that houses keep coming back on the market. Sometimes that's because finance was rejected. If a buyer inpsects the house and finds it satisfactory with structure, building and pest but the house is back on the market because previous buyers couldn't get finance, there may have a bargaining opportunity for the new buyer with the real estate agent. Cheers

 

Ahhhh... Thankyou.

One of the properties is in very poor repair, visible termite damage etc. The other seems OK..

 

Yeah....Carrum downs is hot right now, have owned one there since 2005 and up until mid last year had seen below average growth.
Next door neighbour to ours just sold for $420k 3 bed 2 bath small home....poorer condition than ours.
That would mean an approx $50k jump for ours in the last 12 months I reckon.
And as far as Frankston goes....was at the auction of a house in Yuille street on Saturday, the add listed $540 plus (way too low), I reckon based on recent sales it would go for $640k....it had 5 bidders and went to $686k!
It's still hot in little old Franga!

 

Rowville has already moved as the spill over from those priced out of Glen Waverley / Wheelers Hill. Generally now too late there so on to next suburb over for affordable purchasing.

 

frangers is going well another just listed this week - 6 Arabil Street Frankston Vic 3199 - House for Sale #123345686 - realestate.com.au
looks like a good one too.
gonna be a busy springtime i think.
i saw the house you mentioned above and thought crikey o the listing and then the final price. would like to be a fly on the wall and see the agents list price.
thanks. yorkie

 

Just saw 172 mcmahons rd for 420k. And not even on a 600sqm block. That area is really moving now...

 

Here is an article that was published yesterday. Please read below. Its true about frankston central....



ONE of Frankston’s oldest residential streets is fast becoming a real estate hotspot.

With 15 homes sold this year including eight townhouses, Beach St is transforming into a hub of modern units.

Surprisingly, it’s not the beach end of the street that is going gangbusters.

Owners of the original 1950s homes at the Ashleigh Ave end are jumping on the market bandwagon and selling fast to developers.

With block sizes ranging from 550sq m to just under 1000sq m, investors are buying up and building two, three or four dwellings.

Ash Marton from Ash Marton Real Estate said investors were starting to realise what the spot had to offer.

“It is one of the more appealing non-South Frankston locations, attracting investors and first-home buyers alike, due to larger than average block sizes and the progressive development along the street,” Mr Marton said.

“It’s a very unique street in that it meets many of the non-negotiable requirements of investors such as freeway access, a bustling strip of shops, excellent public transport options and all within walking distance to the beach and Frankston CBD.

“It is clear from a drive along Beach St there is progress and change happening and this is giving investors confidence they are investing in an up-and-coming location.”

He said most home sales along the street had sold in excess of the Frankston median sale price of $440,000.

UFirst realtor Juan Merchan said Beach St was like a “mini metropolis”.

“It caters to a range of people; students, first-home buyers and the elderly with easy walking and public transport access to the CBD, great cafes, medical centres, PARC and TAFE,” Mr Merchan said.

“It was once an ugly duckling, but now it’s becoming a highly desirable spot.

“Rent for a three-bedroom, two-bathroom is very affordable too, averaging around $350-$400 per week.”

Frankston mayor James Dooley said the number of planning applications had increased in recent years.

“Most likely the reason is the accessibility to good facilities and services, which makes it an attractive location for denser residential development,” he said

 

That's good to read. My IP is behind the Top End Beach Street shops. I plan to put it on the market soon. Just have to wait for final approval for the development plans I plan to sell it with. Frankston Council doesn't believe in doing things quickly.

 

Hi

Of course it won't be the beach end/Nepean Highway end of Beach Street that is going gangbusters, their is only 10 homes in total down that end and I am sure the locals living in that part of Beach Street and Gould Street would object like crazy to any type of pro-active development.

Might have to go and check out the other end of Beach Street tomorrow to see what all this hype is about.

Regards,

alicudi