VIC Frankston

Start your own Berwick thread, you and the tumbleweeds with have plenty to discuss.

 

Queen st sold for 490k. Great for area!!!!!

 

Nah no tumbleweeds here! The council weeds our nature trips

Not much to talk about with Berwick these days, everyone was being tight lipped the ship has already sailed. After Nov 14 the whole area went ridiculous. The "Toorak of the east" is appealing in itself and draws it's own demand quietly

Now we're actually looking at Frankston this weekend based on the principle it hasn't moved as much recently (the market everywhere else is too hot). Will be looking in the FHSZ area's. Though not paying over 350k for a house on Lee St and the likes! If I can still find a 700sqm+ portable shacks on Froome St for sub 400k however that might be an option.

When you can't get get something on the left side of the rail for under 500k it feels like a bubble to me. A lower end block in Berwick sold for 900k last week!! Developable blocks in central area's anywhere are currently way too overpriced. I've seen it in every suburb now. People are paying literally double the reserve price for these blocks. The numbers don't stack up to me unless you build high density apartments or hold for over 5yrs. The current market and prices is driven by investors not lack of supply. Any auction in this current day on a good property is a joke.

 

Just saw 64 gairloch drive sold for 515k. A street record ive been told! Amazing!!! Good pocket too

 

That is a nice little number and I couldn't help noticing it on re.com. Faces north and I like the carport arrangement. Also, looks like decent and simple renovations, allowing vendor to add own style or rent out immediately.
Seems to have been a few more sales of the larger houses come up in the last couple of weeks.
As mentioned above, still some good buys to be had around the 400K region. Less if you've got the time and energy to source them out.
Movement in the market reflects the strong stigma associated with the area. Once that station area gets bulldozed, I imagine visitors to the area will be surprised at the change and see it for what it is - the home for lots of families and the site of strong educational and helath and arts facilities.
Anyone got any news on the developments at the station?

 

Its definitely a nice number. I saw it used to be a 5 bedder but converted to 4-2 arrangement which is the more logical choice. Good sale for them and the renovation has come up a treat! If I had the money I'd definitely buy

Looks like hocking Stuart does well in this area from past sales, looks like it's an auction area....

 

Not even a 600m2 block. And is it a little close to Frankston North or does convenience counteract this?
A sign of things to come, I think.

 

Frankston North- after speaking to a local agent a year ago, even he said its a no- go zone. My bank manager grew up there and she said- don't touch it. Reasons- historical and generational poverty, lots of government houses sold to the prior renters so poverty continues. So sad, ( not for property investors, the residents) but unfortunate fact.

 

I guess this means you haven't done any research of your own? If the ex-commission houses are being sold to ex-tenants then this will help break the chain, won't it.
True though, not a place for the feint-hearted.

 

The agent said it was mainly DHS clients ( renters) who bought them. Could be wrong though and I think Franga itself has many attractive attributes so maybe down the track it will gentrify. Crystal ball anyone?

 

This agent was from another area, right?

 

Frankston central

 

Probably the same one who told me how much rent I was going to get. H e or she might be right but always pays to do your own research and read a few threads and connect in some way with investors who have bought there. Plenty of sales pitch around.

 

They are doing work in the Main Street ATM, but no sign on anything at the station as yet. Nothing noteworthy yet for the street work they are doing. I think they are widening the footpaths, but I'm t 100% certain. It's just a guess based on reading the plan for the area some time ago.


I know it's been said for MANY years now.....but frankston will go big at some stage! It's got too much going for it. Seaford is starting to see the trickle on growth from the suburbs north of seaford. I would have to say carrum downs will have some flow on at some stage too.

There is a lot of land to be developed further inland, however carrum downs will re gentrify in time, especially given its proximity to Frankston CBD, the Eastlink,Peninsula link and the beach.

This is not advice. Just my personal commentary on the suburbs and naturally people should do their own research

 

They are widening footpath, puttingnin new trees and the road will be cobblestone too and new lighting and seating as this is where the wednesday market is held.

The station works will be ages away. Its the fact that the council had this in before station works and this got the nod straight away.

At the end of the day whoever party is in ppwer they all are the same. The station will be agesssss or will never happen i think..

 

I would love to see the little fake grassed area add more container shops like the organic coffee shop that's there now. It would be a great draw card to the area if they got the right retailers in, could also become an area for musicians to entertain and lots of food carts/ pop up container stores.

 

Melton includes the suburbs of Caroline Springs and Taylors Hill. To give you an idea, they have outperformed Brunswick over the past 5 years. Definitely a sellers market at the moment.

I'm tipping them to perform more like Taylors Lakes for the next 5 years though (sweet f#%@ all).

 

Both already are IMO. In the last few years I have made good CG (on paper) in both.

JB

 

There is still much growth to be had in Frankston.

The real riches are in the lowest decile of properties. I've put my entire super into Frankston these properties can only move up. Once the Marina is built and the problem residents gone millionaires will be ready to snipe up those vacant homes in a blue chip area.

GL.

 

The marina is on indefinite hold.

JB