VIC Frankston - Hold?

I reckon an REA would value it at +10% so maybe up to 640K.
An REA told me I could possibly get 640K.

 

That's really good!!!. I'm second guesing myself now if I should extend or have 2 IP's. My broker reckons with the equity i have available I'd rather get 2 IP's. But where do you start?

 

Doing nothing is also an option.

 

well yes that is true....

 

31 Havana Crescent, Frankston, Vic 3199 - Property Details

Wow $620k is a big result for an unrenovated 3 Bedder in Karringal!

Makes me happy about the x2 renovated 3 Bedder's have a stones throw away

 

Is frankstons market still hot and increasing or slowing down? Anyone following results

 

The under 600K market is doing really well. And units are doing really well.

 

Are you seeing price increases from last year?

 

The prices are still going up, but at a slower rate IMO.

 

They went hard until about July then eased off a bit til about January and now have increased slightly again. But the cheaper properties sell quickest. In the sold section, it's units and cheap houses.
So I'm waiting to see 700K as the norm. 660K was the go last year for something renovated and in a decent area. I now see a lot of high 500s and maybe a 680K or 700K here and there. Units are getting quite pricey.
Thing is, the property might not be selling as fast, but people are clearly holding and there's not all that much stock.

 

No way prices could keep going up at same rate as 2017.

Still a bit of steam left in Frankston yet though, however it may have run out of puff by mid to late 2018.

Long term fundamentals for Frankston remain positive however.

 

Go you good thing! Haven't paid attention to Frankston for a little while, but the Havana result is good to see. I have a property a few streets down from there in Karingal which has a renovated kitchen/bathroom. 2 years ago these properties were going for $360-400k!

 

Def has slowed down. Lucky to get 650k for. Renovated 3 .bedder

 

63 million going on the new Frankston station
Design Of New Frankston Station Revealed

Went to an open for a 2 bedroom unit on the weekend, about 30 groups through.

Still seems to be lively!

 

People will continue buying in Frankston/Frankston South. Young couples are buying anything what's left under $650K, including townhouses. There's no land, only way is to chop the remaining blocks and build townhouses. Decreasing number of houses on big blocks will continue to increase the value of such houses/lots, which is a good thing if you hold one!

 

Agreed.

Anything with 550 sqm and above is a good buy in frankston

 

I think that this $225 million for the electrification of the Frankston rail line to Baxter will be good for the area (Leawarra station, Langwarrin station, Baxter station and of course Frankston station which is undergoing transformation now) .

Canberra finds $7.8b for Vic roads, rail | SBS News

 

That would be great, I agree. I actually thought it was a functional station when I bought nearby there. Hope it happens.

 

Langwarrin station??? They'd have to build that one...

 

Looks like I'll soon be able to get from Sydney to Frankston without needing a car - maybe even to Frankston Heights.