Frankston North Melbourne's Fastest Selling Suburb

Who would have ever thought?
Melbourne's fastest selling suburbs for houses and apartments

 

The only reason is cause they are subdividable. No other reason

 

Well... in addition its a cheap suburb and near the beach... I'd go for that.

 

Knowing the area well I couldn't fathom spending 400k+ in Frankston North. Even if the block can be subdivided, in today's market you'd be realising a loss very quickly..
There's much better places to invest 400k in..

 

If I owned a property in Frankston I would be selling it fast as well.

 

Interesting. Are you able to expand on this?

 

Yep curious why you say that?

 

Sorry guys. I just don't like outer suburbs ever. They are more volatile.

I like suburbs with no new supply coming on market. I know of others who are happy in this market but not me.

 

Pretty happy while it's making money and has tenants with rents going up at a rate I can't keep up with. Each to their own but be careful with the stones when you're in a glass house and cracks showing.

 

Median price graph of Frankston North from Property Observer showing a reasonable cyclic trend. Yes, as with any market there are times where it wouldn't have been advantageous to buy however this applies anywhere and once again highlights that property is a medium to long term investment.

If you'd bought in 2013 you would have made over 26% in three years or 80% in the last decade. Plenty of worse places you could have bought.

 

How far Frankston is from Melbournes CBD lacks relevance. Frankston has its own CBD close to beach, it's a well established suburb with all the infrastructure an individual or family could need, schools, hospital, tafe/Uni, major shopping centre, public transport etc. The only new supply in the area will be small block redevelopments and knock down rebuilds....adding value to the area. I'd hardly call that a recipe for volatility. It's a pretty good place to own a dwelling whether it's to live in or as an IP I reckon. The growth in values over the last 12 months tend to support that view.

 

Took a drive around Frankston North today and it still looks a bit rough. There is some knock-down dual-occ development going on but nowhere near the scale as what is going on in Frankston. But I guess the land content is the big thing and in the long run it can only become more valuable..

 

Where in Vic for $400k?

 

Vic doesn't necessarily mean Melbourne

 

I get that, what are the much better 400k examples we comparing to?

 

400k or less will get you a subdividable block in Hoppers Crossing and Werribee. Much nicer mix of owner occupiers and investors than a commission/rental dominated area like Frankston North.

 

Wife was a teacher in hoppers crossing 10 years ago, the demographic of a $400k subdividable block in that area is same as Frankston north. Weigh up the other infrastructure around both areas and then make a decision

 

I prefer to weigh up ROI. 400k on a subdividable block in Hoppers I can generate a profit after developing. The same 400k in Frankston North id be looking at a decent loss.
Both suburbs are established with existing infrastructure but I disagree on the demographic being the same.

 

And therein lies the beauty of property investing....
We all have different ideas and views, neither are right or wrong....just different.
If we all thought and invested exactly the same there would be no opportunities anywhere for anyone!