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VIC Clyde North vs Officer vs Frankston North

Discussion in 'Where to Buy' started by macdub, 26th Jun, 2015.

  1. macdub

    macdub Active Member

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    Where would you buy and why out of these 3 suburbs if buying new in Clyde North, Officer or rentable house with more land in Frankston North?

    This is for long term investment with budget around 350k.

    Thanks in advance.
     
  2. macdub

    macdub Active Member

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    Anyone??
     
  3. WattleIdo

    WattleIdo renovating Premium Member

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    I have a house in Frankston and don't know the other areas. If going into Nth Frankston buy cheap buy well and be careful. But do it. Land is good.
    Are the other areas west? That would appeal to me for later growth.
     
    Last edited: 27th Jun, 2015
  4. sauber

    sauber Well-Known Member

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    Frankston nth has good land value but make sure you buy a brick house.
     
  5. sash

    sash Well-Known Member

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    Definitely Officer...just make sure it is near Cardinia or Officer stations.....
     
  6. JK200SX

    JK200SX Well-Known Member

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    About a year ago I read one of those reports John Lindeman publishes and in it he mentioned Clyde North was going to be a Boom Suburb. Would be interesting if anyone has the report lying around and is able provide the figures that John mentions so that we can see whether his recommendation actually came through?
     
  7. JamesP

    JamesP Well-Known Member

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    You won't get into officer for 350k.... perhaps just. The smallest homes/blocks in Officer/Clyde are around the 360k mark now, they were 330k/340k some months ago. Still decent 3/4 bedroom homes but are on smaller lots and seem to have the garage build halfway into the house (no rear access/less room in house), more or less a unit.

    I notice with Officer they've developed off Cardinia Lakes which is halfway between Officer/Pakky, and the good land near Brunt/Tivendale rd has yet to be used. Once estates go up there it will essentially be the real Officer, it's adjacent to Beacy/May Rd. Living in the area for 20yrs it's my feeling Officer central along with Beacy and Berwick townships will become the heart of the region. Driving from Berwick Tivendale road is essentially 2min out of Beacy..Cardinia rd is too far out and would be classed as Pakenham... 10min drive+ once you turn out of Beacy.

    I've already noticed some new development near Officer central/Brunt rd. I always believed it would skew capital growth in the Cardinia Road estates... but average homes are 500k there!!! Seems people already know it's that close to Beacy/Berwick the prices are more or less the same.

    Thing is you can get great old homes on acre+ blocks along Tivendale Rd for only 700k. The heart of Officer. My folks almost did but didn't want to develop and hold that long. The homes along Inglis rd Berwick (900k) are an outright bargain also. Acres of land adjacent to 700k homes on 1/4 acre blocks. But if you buy the ones there with powerlines it's kind've pointless.
     
  8. sash

    sash Well-Known Member

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    Wow...that seems like a lot!

    I just went unconditional on a block for $144k......in the Arcadia estate...it just shy 300sq.

    I am planning to build a 17 sqm 3x2x2...for about 165-170k....tricked up with stone in kitchen, AC, high ceiling etc...

    So for 315k I have a fully completed home. ...nice profit in it already if they start from 360k.

     
    Last edited: 4th Dec, 2015
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  9. larrylarry

    larrylarry Well-Known Member

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  10. sash

    sash Well-Known Member

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    Looking that way...lets see....Melbourne/Geelong is now looking like the Goldilocks of property.....Brisbane has not had the same growth....from where I sit.

    Though looked yesterday...and it looks like Strathpine has moved price wise quite a bit...
     
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  11. JamesP

    JamesP Well-Known Member

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    Nice Sash!! I'd say that's a great pickup, should definitely rent for over 350p/w! That's a wonderful return on 315k. You simply can't get them that cheap in that estate!! I have friends renting there, in the Arcadia estate that is, slightly smaller home, the high ceilings, but basic kitchen etc it's a lovely home.. for 350p/w. There's a new arterial rd going up there... he uses it all the time to get to work loves the area.. definitely the way to go over Clyde North imo.

    The cheapest we could find in that area were advertised 330-340k... and I know for a fact they went for 360-380k, because we inquired after our offers weren't accepted!!

    Actually here they are.. would've been what we thought were the best buys after meticulously looking in the area! These 2 were considerably better deals than the median at the time! That Clarendon st is now a 400k house more or less.

    Sold Price for 2 Cranbrook Circuit Officer Vic 3809
    Sold Price for 40 Clarendon St Pakenham Vic 3810
     
    Last edited: 4th Dec, 2015
  12. larrylarry

    larrylarry Well-Known Member

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    @JamesP are these areas really hot now? How do they compare with Werribee, truganina and surrounds?
     
  13. JamesP

    JamesP Well-Known Member

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    Not sure of the last few weeks Larry but since the end of winter to November (when we bought thus stopped looking) it has been extremely hot in Berwick and everything close to it! As in absurd!!! Can't comment in comparison to the west as I've heard it's crazy there too. But in Berwick you had people paying 30% overs it was just insane.

    Hottest by a longshot for (some reason?) is Narre Warren. To the point we didn't bother. Numbers wise it was 40 people per open lines going out to the nature strip. Particularly Maramba and Saxonwood estate (which is more expensive than I believe it should be... but the demand is still insane or was in October). Saxonwood and Maramba estates remind of Glen Waverley :cool:. We know the estates well.. our entire lives, just don't get it. Oatlands estate is far superior, bigger, newer, better, (has better shops/Coles and schools too :S). Noticed many/all people in the Saxonwood/Maramba estates looking are ethnic, whereas oatlands is more a white demographic? With far less ethnic people being at the opens there and living there.. I'd say this is the reason for the insane prices in those older estates. Blocks in both area's are mostly below 600sqm, and Oatlands has better schools and amenities.

    In Berwick: 4 Mansfield was listed for 420k, sold for 907k. After 550k everyone pulled out and it was between a Chinese gentlemen and a developer. Most homes in the area (Margaret/Evans/Jane St), jumped from 400k to 600k overnight. This one went for 907k due to zoning for a 3 story apartment block, (it's next to shops but was informed you can't build commercial). I was renting on Margaret St too, never thought it could hit 650k... I had it in my head all 2013 it would peak at 500k/520k.

    I think Berwick/everywhere has cooled a little (could possibly re-boom) but Narre Warren/those estates might be worth a good look.

    Berwick does have a Chinese factor over all the others.. It has Nossal school and a few other top schools... whatever it is you see Chinese in Berwick and not the other suburbs when it comes to opens (Narre is predominantly indian demand) Wouldn't compare Chinese in Berwick to anything like the Eastern suburbs however.
     
    Last edited: 4th Dec, 2015
  14. melbournian

    melbournian Well-Known Member

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    You're talking home & land packages as in turn key. A quick search on realestate shows they're still land going for 144-220k. Just depends how big a lot that you want. U can source the house urself as opposed to looking for one with a total package . If u buy 150k throw in a 165k house it still comes to 315k
     
  15. fajji

    fajji Active Member

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    don't know if this is true or not but heard there is a prison coming up in Truganina. Looked at land sale there few weeks ago and 450 m2 blocks were going for around 300k
     
  16. JamesP

    JamesP Well-Known Member

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    If that's the case the numbers there still add up pretty good? Might look into it myself! Those weren't new homes but yes H&L equivalent is essentially the same cost as those 2 ;)

    I've had this pipedream of building in Cockatoo vic... land seems to be 50k cheaper and I might be able to get away with a crappier house!!! Shack homes in Cockatoo sell for 300-330k, while the cottages sell between 350k and 400k. I'm aware of all the fire/council issues I've come across... I have a feeling no developers can go there and there's untapped building gold!!!

    Buy block 80k-150k...depending on if I want to clear trees or not. transport old free home onto block and pay 50k for them to cut and paste it (turnkey... Don't think Casey council would allow that in Officer or suburbia). Live in the bush for a year and flip it for 350k... 150-200k profit no CGT!!!

    My problem is they wouldn't give me the construction loan/50k transport after I borrow for the block!!!
     
  17. larrylarry

    larrylarry Well-Known Member

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    Port Phillip prison
    280 Palmers Road
    Truganina VIC 3029
     
  18. melbournian

    melbournian Well-Known Member

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    I don't know officer area etc although been hearing a lot abt it from @sash if u buy new land u save the stamp duty on the build. Got someone who did this without checking with council in Daylesford. So essentially working backwards. Why transport a old home when u can get a new one build and claim depreciation and warranty benefits ?
     
  19. larrylarry

    larrylarry Well-Known Member

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    That's what my broker told me. He bought land in Wyndham Vale, Point Cook and Tarneit few years back. He told me to use my imagination when looking at dirt. ;)
     
  20. melbournian

    melbournian Well-Known Member

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    I did in pt cook well not sure if I want to buy again there still there is margin btw organising the build and land urself