Keeping up with the changes
There’s an old saying that the only constant in life is change, and that’s certainly the case when it comes to the property market in Frankston and the surrounding suburbs.
One example of this was the decision by the authorities to change the Frankston High School zone for enrolments in 2021. Frankston High has long been regarded as one of the most highly regarded Government schools in Melbourne, with an exemplary record for its VCE results. So the decision to realign the boundaries of the zone where residents have access to enrolments has angered some people living in Frankston South, (particularly those who had purchased there to be in the zone), but has provided a boost for those living in other areas of Frankston. From a pure real estate perspective, there is a clear premium on property prices within the Frankston High School zone, so homeowners in this revised area might like to contact the team at barry Plant Frankston to get an update on what their property may now be worth.
Another change that has occurred recently is the way homebuyers are searching for property after having endured several months of social isolation within their homes. For example, recent data from Domain shows that in April and May of this year, searches for properties with a ‘home office’ were up by 830 per cent on February and March!
Other increases in specific search terms included:
- Granny Flats, (up by over 280 per cent);
- A retreat, (a 159 per cent increase);
- A balcony, (up by 63 per cent); and
- A studio (up by 53 per cent).
Figures like these provide some interesting insights for homeowners, particularly those who may be considering selling in the next few months. For example, do you have an area of your home that could be used as a home office or a studio? Is there an area that could suit conversion to a granny flat or retreat, even if it’s not currently used that way? Possibilities like these could mean that your property appears in more buyer searches if it is marketed correctly, so don’t overlook this opportunity.
Of course, if you would like a confidential discussion about the best way to market your property in the current climate, or even whether some slight changes to your existing home could broaden its appeal with buyers, don’t hesitate to call on our team at Barry Plant Frankston this week on 9781 3100.
Cheers,
Barry Plant Real Estate
Frankston & Cranbourne