Melbourne market - Seaford & Frankston area

Hi everyone

Can someone please give comments on the current market of Seaford & Frankston area in Victoria.

I plan to buy an investment property here and my budget for purchase is around 700- 800K. The property should have decent land size for future subdivision (Imay do this development in the next 1 or 2 year time). Probably, I smash the old existing house, build 2 new houses and then sell one and keep one.

I did check around on the realeastate.com and overall statistical numbers for this area from other sources and everything looks relatively positive at the moment.

Your local insights help me a lot


Hapi

 

Frankston property market going to be tough to crack in 2018 - realestate.com.au

However, I persoanlly prefer to buy at the bottom of a cycle.

 

I suggest reading the long running and busy Frankston thread. Like @WattleIdo suggested, it's pretty close to the top of the cycle if not already there. Look elsewhere.

 

@Lisa Parker may be able to provide insight

 

Check this one....18 Margate Avenue Frankston Vic 3199 - House for Sale #127256250 - realestate.com.au
In a Frankston High School Zone, good size block.

 

@rook2017 thanks you!

 

Did you but it btw? It says sold for undisclosed sum yet...

 

A few of my clients have recently purchased some quality older units in Seaford, 80s/early 90s. 2-3 on a block. Daggy on the inside but 3 bedrooms and great potential.

 

No, I did not buy it, but I called the agent and found out it was sold for $700,800 in 5 days.

 

Oh, well, I hope you can still find something decent.

 

Having lived in both suburbs and know them extremely well I can give you all the d/l on both.

Seaford beach side is only side to buy. But now paying big bucks for it. The best area is seaford is the golden mile. Quiet area big beautiful homes. Close to everything as well. I sold a house there in 2010 and should of kept it. I guess that's what happens when relationships end.

Frankston. Frankston central is the best area apart of frankston south. Karingal and f/nth wouldn't touch. Frankston central has had some serious money pumped into it I'm not going to name all works that have been done in last few years plus all upcoming projects as well. But cash is coming hard and fast!

I live in frankston ATM and have been here since 2011 and no sign of moving yet I have already doubled my money in 6 years.

If you would like more info please pm me and can give more info on both suburbs

Sauber

 

I do hold property in Frankston currently. Bought it in 2013 and it's performed exceptionally well in my portfolio (650sqm block roughly). No troubles with the tenant either. Frankston is huge and have houses in various price brackets. You just need to be in the right spot. And $700-$800K is fairly decent budget for that area. You won't have to spend that much..

Although Melbourne property prices have shot up a lot in last few years, but Frankston has lot going in it's favour. Pick the right egg for development and it can do really well!..

Good luck.