I was down in the Bayside Area today – both Seaford and Frankston which are two great suburbs and yet slightly different which highlights the importance of comparing apples with apples when searching for property.
A common mistake many investors make when they look at the medium price for, let’s say, houses and units, is that they use that as a guide to value. This is not always accurate as different factors can influence the price of each individual property.
Let’s look at Seaford first which has an are of approximately 8,000 homes. Seaford is in two parts. We have what the Real Estate Agents refer to as Beachside which is from the beach to the Frankston Freeway. This is also known as the Golden Mile and includes streets such as Kananook Avenue, Fortescue Avenue, Rosslyn Avenue, Kirkwood Avenue and all of these streets are highly sought after and are within walking distance to local shopping and the train station.
Then there is the part of Seaford which is on the other side of the Frankston Freeway. This are of Seaford is not quite as sought after as the beachside and includes streets such as Austin Road, East Road, Emanuel Drive, Molesworth Street and Maple Street. There can be as much as a $200,000 difference between houses from one side of Seaford to the other.
Now let’s look at Frankston which is an area of approximately 58,000 homes. Again, investors often make the same mistake of using the medium price for Frankston as a guide to value and potential capital growth.
In Frankston, there are suburbs within suburbs, each with a very different price point and potential capital growth. The suburbs within Frankston are as follows:
– Frankston South (Oliver’s Hill)
– Frankston Heights
– Lakewood
– Karingal
– Frankston Central
– Golflinks Estate
– Bayview Park
– Marylands
– Frankston North
– Long Island
Each area has its good points but not all are suitable for A Grade property investment. As in Seaford, there are parts of Frankston that will always offer a better investment outcome.
Always make sure that you are buying in the very best area for you that you can afford.
If you would like to arrange a consultation where we can discuss your buying strategy, and I can help you search for and secure the right property in the most suitable location for you, then you can do so below.
I would love to help you secure your next home, whether it is your principal place of residence or an investment property.