Bought in Frankston North over the weekend!

Looking to now buy in Adelaide and Brisbane. Can anyone suggest some undervalued areas in these cities?

I am aiming to buy in both cities for under $400k.

How things have changed over the past 10 months!

http://www.heraldsun.com.au/leader/realestate/beachside-suburb-with-prices-less-than-300000-draws-a-crowd/news-story/016d0af68b158cb7d1cfe3a2c42f6585

I see. That is great to know. It would be good if realestate.com.au provided a median over say 3 to 6 months rather than 12. As we can see the median of 317k in no way reflects the market over the past 3 months! Might have to renew my RP Data membership!

Time for me to me to get into this area before we see that median climb north of 400k in the…[Read more]

That is very interesting Benny. I’ve never put much thought into how realestate.com.au calculates the median but it is something I will have to look into as I am certain that the current median price of $317k in no way reflects sales over the past two months. There are only a handful of properties in the past few months that have sold for under…[Read more]

Good point Benny! We were actually looking at properties around the $360k mark that still required extensive renovation. My guess is the one I posted above will actually sell between $390k and $410k based current conditions. Links below give an idea of what I’m talking about.

1) Original condition:…[Read more]

This is an example of what I should have bought when it was easy to pick something up for <$300,000. https://www.realestate.com.au/sold/property-house-vic-frankston+north-120958106

At least I can still get in under $400,000!

Here is one Frankston North property I’m considering: http://www.realestate.com.au/property-house-vic-frankston+north-123538858

Opinions?

:)

Thank you Benny, appreciate your input! I’m beginning to wish I’d gone with my gut almost a 1 year ago when we arrived in Aus. A similar property on the next street sold for $295,000!! If it were put on the market today I believe it would fetch well over $380k (one just sold for $390,000 on the same street). Many of the houses are being renovated…[Read more]

Any last minute advice? I am currently negotiating a deal around the 360k mark in a nice leafy street in Frankston North (well away from the less desirable pocket), 10 minute drive to beach and walking distance to station. In my opinion this is still great value but would love to hear a few more opinions. FYI – this property is has a long-term…[Read more]