Market Forecast 2019: Why Now Is A Great Time To Buy Property
I have been searching a few properties within the Seaford and Frankston regions, and have been assisting clients to secure properties in these areas for many decades, so I wanted to give you some insight into these areas in case you are considering purchasing a property in one (or both) of them.
Both Frankston and Seaford are great suburbs but each very different which is important because when you are comparing property you want to make sure you are comparing apples with apples.
A common mistake many investors make when searching for property is looking at the medium price alone for example for houses and they use this as the guide without considering additional factors of the property that would impact the value.
This is a mistake because you need to ensure you are comparing properties which have the same features and more importantly the right features to ensure it provides you with maximum capital growth in the future.
Let’s look at Seaford first, which is an area of approximately 8,000 homes. There is two main parts to Seaford – there is what Real Estate Agent’s call Beachside which is the area from the beach to the Frankston Freeway. This area is also known as the Golden Mile and includes streets such as:
- Kananook Ave
- Fortescue Ave
- Rosslyn Ave
- Kirkwood Ave
All of these are highly sought after and are within walking distance and the local shopping centre, the station and the beach.
The second part of Seaford is the side on the Langwarrin side of the Frankston Freeway. They are still in Seaford but not quiet as sought after as Beachside Seaford and includes streets such as:
- Austin Road
- East Road
- Emanuel Drive
- Molesworth Street
- Maple Street
There can be as much as a $200,000 difference between a house on the beach side vs a house on the other side so it is important to consider which side best suits your individual circumstances and long term goal(s).
Now let’s look at Frankston, an area with approximately 30,000 homes. Again, most investors make the same mistake of using the medium price alone for Frankston as a guide to determine how valuable a property is which as I mentioned above is a dangerous mistake without considering the actual factors of the property which are most likely to determine its value.
Frankston is different because there are different markets within the suburbs and each with a very different price point and potential capital growth.
The main suburbs within Frankston are as follows:
- Frankston South (Olivers Hill)
- Frankston Heights
- Frankston Central
- Golflinks Estate
- Bayview Park
- Frankston North
- Long Island.
Each of these suburbs within Frankston have good points and bad points but not all are suitable for investment and each have different requirements for example if you are looking to secure an A Grade investment property.
As with Seaford, there are parts of Frankston that will always offer a better investment outcome in terms of the capital growth you will receive in the future.
Always make sure you are buying in the very best area for you that you can afford. If you want to book a free 45 minute property strategy session where we can discuss your current situation and long term goals, and I can give you advice on which area and property would be suitable for your situation, you can arrange it here.