VIC Frankston

I'm in central and I have JPC and that's really it. Private catholic school. There mcclelland college but that's more karingal than anything

 

yeah but then you would've paid more for the property. When gentrification comes to town you'll be laughing.

 

I wouldn't get too caught up being in the FHS zone personally. Plenty of great prices in central Frankston at the moment in this thread, where the location of the property and land size seems to be the drivers.

 

3 Campbell st sold for 510k

 

Ah, 512k. Good auction, lots of people there. 500k is close to becoming the new norm for decent properties in the area.

 

I agree. Big blocks and a good area, close to everything.

 

Is this investors/developers buying these or first home buyers ? because it didn't look like an easy rear development to me, the side access looked way to tight.

 

I was at this auction hoping to buy. Advertised 360+, and apparently they had an offer for 400k about a week ago. My limit was 450k.

There was a lot of interest, about 80 or so at the auction, and would hve been at least 10 separate bidders.

Vendor was not there, and auctioneer said was on the market somewhere around 420k. Bidding was very rapid around this point.

Driveway was 3.0m clear, and there was a window of the original dwelling on the driveway side, and roof encroached further. I originally looked at it as a retain and subdivide, but the numbers stacked up better for a knockdown. The house was also set a little further back than adjacent properties.

I spoke with council town planner a few weeks ago and previous application had been rejected due to not complying with overshadowing, but I believe they were trying to put 3x2 storey.

 

This is quite interesting what you have posted jeff. I would have seen it be a lot2 development then if they can't get a 3x2 double story...

That whole area are big blocks so I see a lot of unit development in that section.

 

More than half the houses in Frankston are under contract. Probably another quarter are being auctioned. I love that.

 

Frankston seems to be a auction spot now....

 

Fry an egg on the footpath .... ttzzzz

 

local melbourne news reports say the market is about to turn to a buyers market.

Do you guys think frankston would be an exception ?? or is it all just media hype and getting it wrong ?

I went to have a sticky beak at a few local opens on the weekend, and the numbers / turn outs still looked pretty good. According to the agent log sheets I was lurking at, I was seeing 15+ groups through some of them, they seem like strong numbers still to me.

 

Did you get the impression they were first home buyers? That's who we want there now I reckon. It's still the kind of place that young and old move to when they can't afford the more desirable inner and middle suburbs. So as it gets silly in those places, the young couples and families will move further out. Fingers crossed that's what's going on. Obviously there are some developers buying up in Central Franga too.

 

just speculating, but I would say all bidders after 450k were developers. it will certainly be a place that I keep my eye on over the next few years to see what they do.

 

If there are prices like 450-500k in central frankston it's cashed up homeowners buying outright and moving in from inner suburbs or developers looking for a quick buck.

As I was always told it cost the same to build in frankston as it does say toorak. (Waiting the oh thats BS line...)

 

The local leader newspaper had an article talking about the high number of buyers coming from outside of Frankston.

They made the point that as people get priced out of beachside locations closer to the city they are seeing Frankston as good value.

I try to keep an eye on the Mordialloc- Seaford stretch of coast line and the prices some of these places along there are getting are impressive....even knock downs are getting mid $700's in Chelsea!

 

Not everyone works in the city. Quite silly for these asking prices I believe in that stretch moody to seaford

 

can you post your figures? I want to compare with mine

 

Was that for Campbell st? 512k? 812 block.
Also it's a triple front home, very rare in frankston too. Not many of them around. They are a very desirable style house cause they are easy to Reno