Hi all,
I am planning to an IP in Victoria. Do you think Frankston is a good location? How do you find out how many percent of the local residents are renting? Thanks
Best regards,
JackieI believe it is 45 rent & 55 oo, i have friends down there who say it is a very diverse suburb also, so that ratio may vary significntly within different areas of the suburb
Hi, and welcome to the forum. Page 39 of this months API (Aust. Property Investor) magazine mentions Frankston……. Only a few paragraphs, but the article is titled ‘NEXT?’ in their ‘boom’ article. Know nothing about it myself, but remebered it mentioned recently. All the best. [strum]
Originally posted by jacklynh:Hi all,
I am planning to an IP in Victoria. Do you think Frankston is a good location? How do you find out how many percent of the local residents are renting? Thanks
Best regards,
JackieHi Jackie,
I live not far from Frankston have IPs in the area (Chelsea), and have looked at the Frankston market a lot of the last 5 years.
The previous poster is correct – its a massively diverse area and prices exist and both extremes.
There are 3 main areas to Frankston
Frankston North – old (some current), commission area. Due to explode if the Frankston Marina ever goes ahead (remember West Ivanhoe!)
Frankston South – The Mount Eliza of Frankston. Prices dependent on how close to the border you are of Mount Eliza
Frankston Central – Price dependent on the usual factors – shops, public transport and of course the beach.
this is a suburn where a good price is to be had. If I personally ever manage to do a WRAP it will be in Frankston North, but as I read here due diligence is a tough one here
Ring the local RE specifically MPRE and Hocking Stuart in the area.
Good luck
Hi
We live out that way – between Carrum and Bonbeach – just off the Nepean Highway – and we LOVE it – right by the beach and the Patterson River and good train link to the City as well as Moorabin, South Yarra etc – and of course, Frankston the other way.
Frankston will have great access with the new freeway coming through in 2008 – great links to Ringwood etc. A lot of money being ploughed into developing Frankston – might be worth a call to the council to find out more details of the areas targeted for large investment.
As well as contacting the agents down this way, I also suggest getting hold of the free papers as they give a good idea of the prices and types of properties in different areas – if you want some then send me a PM and I’ll post a copy to you.
Frankston North is usually the cheapest – but also gnerally the least affluent. Depending on what you’re looking for you may also want to have a look at the next Suburb before Frankston – Seaford – quite a few large blocks that are subdividable with original house on.
Also look at other suburbs out this way, such as where we are – and the Mordialic area is up and coming too – although a bit pricier – it’s still by the beach and is more commutable from the city.
hey all, thanks for your advices. They really helped. I appreciate it. I will probably go for house inspections this weekend. Hopefully I will get more information.[biggrin]
I think Frankston will be good. I would try to buy in the best area of Frankston you can afford rather than the Cheapest,
let us know what you think of the Frankston Market after your inspections.
Live, Learn and GrowLifexperience
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