Frankston is approximately 40 kms from Melbourne. In the old days it was a place that people would go to spend the day or the weekend by the beach or have their beach holidays down that way, because it was considered far enough away to do that. But with the expansion of the Melbourne metropolitan area plus the improvement in road and rail infrastructure, it is actually a lot closer to Melbourne than it used to be, certainly so far as travelling time is concerned.
The key to Frankston is its price and its proximity to the water. Excellent facilities, it’s got a number of huge shopping centres, Tafe College, a campus at the university, high schools, primary schools, private schools, public schools. So, so far as infrastructure and services are concerned, you certainly couldn’t fault Frankston.
Why buy in this suburb?
Some of the reasons you should seriously consider buying in Frankston, it is one of the cheapest suburbs in Melbourne and it’s on the seaside as well, so that’s an added bonus. Two very good leading indicators of capital growth is where the government is spending their money and where the private sector is spending their money and there is a lot of evidence of public and private money being spent in Frankston, with expanded shopping centres, renovated shopping centres, new businesses springing up, especially near the coast or on the coast. So there are some very good signs that Frankston is moving up in the world.
Now when you say the word Frankston in Melbourne, people screw up their face and say, “Petey you must be joking, I wouldn’t be investing there”. But what people need to do is go, go for a drive and have a look up on the train. Don’t get confused with Frankston North, that’s very different to Frankston. Frankston South is even better than Frankston, but it’s more expensive. So my tip would be Frankston itself because of its services and its proximity to the water. Frankston North has a lot of government housing, so that doesn’t do well so far as capital growth for the future is concerned. And in recent times the East link has been completed. The East link now makes the trip to Melbourne CBD a lot quicker. So there are some great things going for Frankston.
Best streets to buy in
The best areas to concentrate on are close to the water. If you can be bit shorter than the Nepean highway that would be ideal. It’s going to cost a lot of money though, but you should reap the rewards in years to come. But the closer you are to the beach, the better off you are going to be.
Streets to avoid
Stay away from the light industrial areas. There is a lot of car repair shops and motor mechanic shops in that area. So you don’t want to be buying residential property close to that area. Also not on the Frankston train line, very noisy and stay off the Nepean highway.
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