VIC Frankston 2021

TBH i don't know - just look at the stats. But there are plenty of each variety around. Some of the smaller, blocy, brickier ones do appeal.

 

older units with enough yard space sell really well.

Like this
https://www.domain.com.au/3-57-swan-walk-chelsea-vic-3196-2017127962
Only two opens during a weekday (just before lockdown). Already under offer.

Note the price range ($690,000 - $750,000) when the place sold for almost 690k in 2017!

 

Hi Any idea how is the area behind the power centre and close to jubilee park??

 

Rich lister’s $425 million bid to transform seaside suburb Frankston as reported in a leading daily Is this development actually happening on Leawarra Station??

 

a lot of talk has been about horizon apartments of late and how it will devalue the area by locals, as its too big etc. I'm actually for it tbh. the area needs massive change and as ive mentioned of the last few years about developers coming into the area and changing the face of it. as I'm a sparky by trade i spoke to the director of M Squared electrical, he said this is what Frankston needs and is very proud to be apart of this development.
there are really good pubs and cafes in the area, espically the deck and cheeky squire! (highly recommended by myself)

there a lot a couple of other developments going on behind which are been told are 22 story's and 20 i think....i think more hotels in the CBD are a good thing!

watch this space. big things happening in cbd

 

Not sure about that @Andy2022 because I'm not a local.
However, the last 2 times I've checked the approx guesstimate value of my house, it's gone up another 100K each time.

 

i just refinanced and bought again in regional vic. had the house valed at 720k. was pretty stoked with that! now can buy house with cash and just have 1 loan.

 

I’ve been eagerly waiting a update on the growth from Harris... I really need to stop watching each month though and let it do it’s thing.

 

I have been AWOL of late as things have been busy with some non-prop ventures - but plan on returning soon to update..
Frank/ Seaford market is still as hot as it was 6 months ago and price records being smashed left right & centre. Will post an update hopefully in a week or so..

 

Yeah spot on mate @Harris. Been watching closely with the numbers and things are selling with a 8 now.

 

FROM TODAYS HS.

High-rise towers up to 30 storeys in height, which have been likened to the Gold Coast and Florida, have been proposed for Frankston under a $90 million plan.

Developers want to build twin towers more than 116m and 84m tall near the Frankston foreshore overlooking Port Phillip Bay, outraging residents and heritage experts.

Plans lodged with Frankston Council propose bulldozing heritage buildings and constructing 30- and 22-storey high rises above a three-storey basement for a 200-room Marriott hotel and luxury apartments.


An artist’s impression of the high-rise proposal.
One of the towers would boast a 22nd storey “sky bar”, with a two-storey joint podium for hotel and residential lobbies, a conference centre, outdoor terraces, offices, shops, pool, bar and gym.

Sustainable Australia State MP Clifford Hayes said it was “a truly insane proposal that is totally out of character with the rest of Frankston”.

“Allowing this twin tower monstrosity in an otherwise low-density suburb will open the floodgates to a swarm of high-rise developers and set a precedent that would turn Frankston into a concrete metropolis like Box Hill,’’ he said.

“If this 30-storey tower is approved, developers will use this as a precedent at VCAT to get approval for any and every egregious development they see fit.’’

Frankston resident and land tenure, population and environment sociologist Sheila Newman said: “They want to turn it into the Gold Coast, New York, Florida’’.


Sheila Newman and James Sinnamon outside the heritage home in Frankston that developers want to destroy to build two towers. Picture: Josie Hayden
“Such buildings are incongruous to the natural area and form shadows and obstacles to views and destroy the openness we currently enjoy in the built landscape,’’ she said.

She said the permit application “looks like a huge ambit claim which will be used as a battering ram to destroy Frankston’s low-intensity low-rise development’’.

Three heritage buildings constructed between the 1930s and 60s on the Davey St site would be demolished to make way for the development, to include 116 units and four serviced apartments.

A heritage overlay for the 3318 sqm Davey St precinct was introduced by the council in 2010, with a report stating it was of “aesthetic and historical significance’’.

“The precinct retains its inter-war and immediate post-war architectural character to a high degree of integrity and demonstrates a range of handsome building styles of the period,’’ it said.

But several buildings on the prime site, previously used as doctor’s surgeries and homes, have been allowed to fall into disrepair.

With state parliament this year passing laws to stop developers allowing heritage homes to decay so they could justify demolition, Mr Hayes urged the Andrews government to intervene.

“Hopefully this new legislation is more than window dressing and the government actually puts these regulations to use to protect Victoria’s heritage,’’ he said.

A planning permit application to the council suggested the development would create 209 jobs during construction and another 54 ongoing.

 

There is literally no way this will happen. It will hinge on Baxter electrification, which itself is up in the air, and even if it does go ahead will not be for a long time.

 

I'd agree but given though they own the land then different story. I'd say he wanna push it but my personal opinion is that it would look outta place there.

CBD needs more hotels!

 

Tbh I'm all for any developments ( maybe not this 22/30 story monster) in Frankston but not one's that hinder on beachline and block it for everyone else! That's just ****! They gotta coincide with the character or Frankston. It's great Frankston has changed so much and it's so wonderful! It makes me happy cause it really has alot of offer!

As a I was saying years ago in SS posts it's just a matter of time....and here we are it well and truly has begun!!!

 

How is the area around Overton road/Inglis avenue near Ford.

It’s close to the beach.

 

im around there. its great!

 

Looking forward to your update...

 

Brief update - longer update can wait until end quarter (in 4 weeks).

• Frankston house values were $725k (up 7% QoQ & 17% YoY) end jun. The median for houses as of today is sitting at $786k (up another c10% QoQ) and likely to hit $800k by end sep.

• Frankston North's house values up 9% QoQ to $559k end Jun and are now $595k (another 7% increase in 2 months).

• Frankston units is where we have had the most growth. My tracking shows values up almost 20% since end Jun and a lot of stock sold in the past 2 months.

• Seaford was $836k end jun after rising 8% last quarter and now sitting at $890k - increase of just over 6% in 2 months.

• Frankston South was up a massive 8.5% last quarter to $1.06m however not enough data to categorically state the median but with the limited sales, it's showing $1.110m now.

• Horizon Apartments that @sauber posted above has pre-sold most of the penthouses and apartments. This was mentioned by another developer who is building close to 100 apartments in the area. This is the most expensive dev project to have hit Frankston.

• Rental market still very tight and vacancy rates at c1%.

So, the values are still sky rocketing - very less stock in the market but we will see another rocket when lockdown eases (say in sep/ oct) more and hit the peak selling season.

 

So good! Thanks for the update Harris!

 

Harris the brief update is so awesome..cant wait for the full update you promised you would be giving after end of Sept 2021