What are people's thoughts on Frankston North for an investment. Budget is 450 to 500k. Strategy is buy and hold for 10 years or more, slightly negatively geared is fine. There are some big blocks in that area, so there is scope of adding another unit on some of them but if existing property is fibro then it is knockdown and redevelop in 6-7 years (rather stay away from fibro). My other option is Werribee but I think Frankston North will do better in long term as a flow on effect from Frankston in gentrification, also east seems to do better than west of Melbourne in capital growth.
I have been holding multiple IPs in Frank North for 15 odd years. It's a tiny suburb however in midst of a lot of prop being re-developed into town houses/ units. Frankston is on fire currently however I am yet to see any significant traction in Frank Nth but given the rapidly-increasing prices for Frankston, I assume this will flow through to Frank Nth in coming months. A lot of great buys currently around (large blocks and over 4% yield) which is a no brainer for anyone with a long term investment horizon.
Thanks for your input Harris. What's your experience with tenants, as it is considered a bit rough area. Is rent paid on time, any damage to property? was inspecting a Frankston property last week and real estate agent mentioned gangs in Frankston North. Are there any better pockets and pockets/streets to stay away from in your opinion?
It was a lot worse when I started buying into Frank Nth & Frank but hands down my best investment return area for IPs out of every other suburb I have invested in over the past 2 decades across Aus. It's a small suburb - don't get into analysis-paralysis. Go for a sub dividable block, ignore the noise, avoid buying on a main road and aim for c4% yield and in 10 years, you would be glad you did. All lower socio economic areas in Aus have crime issue so its not exclusive to Frank Nth - it has had zero impact though on its stellar growth and coming off a very low base and with Frank proper flying now, you are likely to do quite well. I don' think we have had a lot of tenant issues in Frank Nth - some in Frankston though but nothing over the past 5-7 years I would say
Frankston north gentrification will only happen when they get rid of all the government housing there....so I wouldn’t hold my breath
Franga south in school zone may do better. Franga north will need to compete with all the nearby new estates that are a short drive away.
Collingwood, Fitzroy, Flemington have a lot more gov housing than Frank Nth. Check their growth. Gov housing has a non-material impact on the prospects of a suburb's growth or the history. My prop in Frank & Frank Nth have delivered more annual growth over the past 15 years than those I have in Kew, Mont Albert, Doncaster & Glen Iris - all blue chip suburbs. Plus the sub div crystallises significant incremental value. Gentrification or lack there off doesn't impact a suburb's growth prospects. You won't get anything for $450k-$500k with land in Frank Sth. Frank Nth is coming off a low base with more annual growth in absolute % terms than Frank Sth - plus the opportunity to subdivide compounds those returns
Hello, I am new here. Thanks for having me. Are any of you concerned about the potential flood risks within the Frankston Municipality?
The house I currently have in Frankston is rented out . I had it rented out in 5 days! And only 4 weeks ago And got more than I was asking so the rental market in insane atm. I had my doubts but was proven wrong!!! Long term Tennant who are looking at retirement. The dream Tennant!! Frankston has seen so much change over the last 6 years. I could list everything but you'd be here for a while. Happy to mention anything about both suburbs as I've been in both and know the area for a VERY well!!! Sauber.
what about the same investment into Frankston south? How does south compare to the north? Crime rates, gangs etc...
as Harris mentioned before the only thing in common between them is the name Frankston in the suburb. Could be similar to Heidelberg and Heidelberg West
Hi, if buying a townhouse, would you say Frankston vs Langwarrin, which one is better for capital growth and rental yield?
