what are people's thoughts of Jacana vs Frankston and others in that >$500k bracket. Tips for biggest performers in 2017 at the best point in the cycle?
Jacana Or Frankston. They are both going to be winners. I would say Jacana if you get something on a flat block (not a sloping one that you can't develop), already renovated enough to move tenants into and for under 450k. Any higher than that your going to be neg gearing it
Do you have a preference between the two? Obviously Dallas is a little further from the CBD and therefore has a slightly lower entry price but can you see one outperforming the other?
My pref would be 1 Broadmeadows, 2 Dallas. Only because Broadmeadows is closer to CBD and Glenroy (ripple effect), Broadmeadows has everything there, shops, transport, courts, etc.
Problem with Dallas is the demographic is not shifting and it's become an Arabic hub. Not sure it's a good melting pot for growth. Broadly and jacana have better long term outlooks IMO
Maybe my experience will help? When I was looking for my first IP I firstly looked at Frankston. But I didn't quite like Frankston north and couldn't move quickly enough before I got priced out of a decent sized block in the other parts. I was also slightly nervous about the distance to city although very keen to buy somewhere close to water. Then I looked up North, starting with jacana, was priced out of the size of land I wanted so moved to Broadmeadows. Offered on a property but the REA apparently wasn't in contract with the owner anymore and played a dodgy game resulting in me losing that one. I also looked at Coolaroo and Dallas. With Coolaroo the houses looked very tired and the area felt industrial and run down. The houses were also not that well looked after. In Dallas the ones I liked almost on decent blocks were mostly on flight paths plus again very run down. I didn't like the over all feel of either of these suburbs though Dallas had some nice streets mostly on flight paths restricting any future development potential (from checking the council sites). Dallas also had a number of properties with illegal granny flats and bungalows. I was still looking up Broadmeadows, Dallas and Coolaroo (due to the price point) when I saw a few really good opportunities under 350k with 600 sqm plus land and development potential at Meadow Heights. Checked out the the area and it appealed to me due to most of the homes being well looked after or renovated by owner occupiers. I think that's the one thing which helps a suburb, owner occupiers who like living in nice houses. Both Dallas and Coolaroo largely had tenants who were really not that great with the property. My criteria was under 20 km radius to the city which Meadow Heights was and the price point for the houses, the fact that they were well looked after and were on land sizes that can be developed on ended up in me buying there. I bought for under 335k and it rented at about 340k within 2 weeks. Distance to the city is approx 18km from the ip and land size about 635 Sqm. This was just last year In the second half of the year and I saw properties of 700sqm plus selling for 370k to 390k at the time. I find it good for rental value so far and would estimate an equity gain of about 20k-30k based on RP online reports having done absolutely nothing to the property.
No contest. Frankston wins easily. Beautiful beaches, parkland, great schools and shopping, the foreshore new yacht club precinct, arts and theatre facilities, mega millions of ongoing infrastructure and traffic is so much better since Peninsula Link opened . The other places mentioned have no redeeming qualities except they are cheaper.
I completely agree for the lifestyle factor. If I had to actually live in the house, Frankston hands down, for an IP, the west is good for cheap buy-in and fast easy CG. Seems to be in high demand. Obviously not for the lifestyle, but the proximity to the city.
frankston hands down as per micks comments, he took the words out of my mouth! Love living in frankston, its been amazing! so many events happening all the time and so much government money being spent in frankston! i was looking with my wife to buy a 4 bedder in frankston (cause we were thinking of upgrading) and i now gotta add another 100k if i were to buy a 4 bedder. so I'm now looking at extending my house for half the price.
I agree with Frankston being a perfect lifestyle option but disagree that others have no redeeming quality. The other places are closer to city, so that would appeal better to those who don't want to travel.
A house on a 625m block sold in jacana last weekend for 610k Was a corner block but still. Definitely the place to buy if you bought last year.
What are people's thoughts on a newish unit in jacana? Such as the below 4/64 Lorraine Crescent Jacana Vic 3047 - Townhouse for Sale #124313502 - realestate.com.au It seems like one can be picked up for around $300-$350k, with a decent rental return. I know a larger block of land is preferred but for those who are limited in their borrowing capacity does this seem ok? Unit prices in suburbs nearby such as glenroy and Pascoe vale have gone up significantly, I know they don't have the name of jacana/Broadmeadows but over time would do you think jacana will follow the trends these suburbs have started. I remember when you wouldn't go near glenroy with a 10 foot pole, now it's becoming quiet popular for young professionals who want to be close to the city. Cheers! Mitch
No thanks, if I was going to buy a townhouse it would have to be in a better area. If you buy in jacana get a big block. I used to hang out it glenroy 20 years ago as most of the gang is from there, never had an issue with the area. Always been good, not sure why you wouldn't ever go there 10 years ago. But I love how everyone thinks it's trendy now and are paying big bucks to get in. I also think glenroy will do much better.
That's way overpriced aye! I think it sold that much because of its OO appeal; the house is very nicely renovated. I don't think it would make the best investment though.
