VIC Could Franga finally be coming into its own?

A well positioned property in Franga will do well over time....even The Pines has gone up over the last 10 years. (I call it "Wayward Pines", now ).

In Franga there are a lot of amenities, a very good high school, freeway, train, Tafe, Hospital, beaches,..the list is long.

 

Listed for $480k-$530k.....sold today for $648k!!

Whaaaaaaaat!???

11 Blair Avenue Frankston South Vic 3199 - House for Sale #122512402 - realestate.com.au

 

@Natedog its frankston sth. What you expect. Nothings cheap there

 

Just shows how things are moving in the area, That would have sold for about $450k 3 years ago if it were on the market.

 

Does anyone know what 126 mcmahons rd sold for??

 

Spoke to one of the councillors from the FCC. They have informed me station works WILL begin THIS august.

 

There is a great (honest) write up about Franga in API this month. Covers the various parts of Frankston including North, South, Karingal and Heights. Also mentions yields and happy to see that 4-bedders are doing quite well. Very worth a read.

 

Can someone send me some info about this or a few pics or a link to the article??

I think median 4 bedders in frankston are about 450k? Cant remember of top of my head tbh

 

I think you could still get good 4 bedders a lot cheaper. If they're at 450K, time for me to refinance out of the crossed loan!

magazine is Australian Property Investor available in supermarket and newsagence - sorry no link. I think they've taken on board a few PC suggestions. Logan and Franga both featured and @Xenia giving her 2c about Elizabeth too - good to see. Plus a buyers agent who I agree with has some very good insights on regionals.

 

the story was more about frankston sth than anything else and as Cate pointed out F sth isnt really an investment suburb. She also declared that beach st near the station was "rough"....***** please have you walked through there at night? and she bought 2 house in f nth.....and she talks about rough....your owning it!!!!..go figure! :S

Also f nth and karingal for units wasnt really an investment strategy. which i will agree on.better off having a house or townhouse in those areas cause they have a better return than a unit.

she was talking about different areas of frankston yes its a big place but break it down into areas and estates and you'll be fine.

i walked down wells st the other day to see the new wells st development finished new paths lighting trees etc, and it looks quite nice but still feels the same to be honest. i think FCC might have buggered on that project without them acknowledging their own mistake. it could be SO much nicer!
the new yacht club looks absolutely stunning if anyone hasn't seen it, i recommend you do. very coastal design, and fits in well to the area.

neeko.

 

Reading the local Frankston newspaper realestate section today, seems there are still strong results.
Seems there's healthy competition between investors and new owner occupiers from out of the area leading the charge. It was mainly about Frankston South which is the part I am personally watching.
I had a bank TOC valuation come in higher than I expected it to, which is goooooood

 

Frankston in the Top 10 suburbs being gentrified as mentioned in the Australian Financial Review:
10 hot postcodes for property investors

 

Can't open the link @the_truth. It asked for subscription

 

Have you tried googling the title? That gererally works.

 

Just speaking to a frankston councillor and on mcmahons rd a new aged care facility will be built next to John Paul College. 3 story building with 140 beds and 52 car spaces. It had an application for 33 townhouses but that had expired.

 

Yup found it. Thx @Gockie

 

I was an under bidder at this one. Estimated it would sell for $630K. Result was not a surprise.

 

If you are thinking about Frankston DO NOT WAIT. Same with Seaford. People will blink and miss out and will have to start looking at Carrum Downs, lang warrin Etc before you know it. Many buyers have already been pushed into Carrum Downs from Seaford.

 

Berwick area's grown more so far but hasn't boomed and struggled in comparison to the rest of Melbourne. Some estates in Berwick have shot from 400-600k while most the better PPOR homes on bigger blocks have hardly grown since last boom. Beacy Upper and Pakenham also remain stagnant. Will be interesting to see which out of Berwick or Frankston regions shoots off first. Then again both might not, people this boom are buying in Williams Landing and Rockbank before looking at area's 40km+ from the cbd.

 

What is it that you see is the main driver of prices in the area is at the moment?