There is a huge talk about real estate dropping and the recession has taken over. But it’s the other way around with Frankston. There is a boom in real estate and huge demand from all over the city to settle in Frankston. No more jokes on Frankston called as “Franghanistan”.
Frankston the Next Hotspot next to Melbourne City and it is often referred to as “the gateway to the Mornington Peninsula”.
The main reason why Real Estate in Frankston is increasing and getting richer:
Frankston High School: Also called as “Frankston High”, a secondary college offering education for students in Years 7 to 12. This school has completely changed the economy of Frankston.
The real estate agents in Frankston are selling faster compared to past.
According to Herald Sun:
“Families paying premium to live in Frankston High School zone”
Some Statistics by Real Estate Institute:
“Frankston High was the second most frequently mentioned school in 67 real estate ads, behind Balwyn High School with 84.”
But Frankston Real estate increased by 16.9% compared to Balwyn with 4% increase.
According to school principal: Mr John Albiston:
“Huge demand from families outside the zone to attend his school — “hundreds” had applied for Year 7 this year, but only a handful were accepted.”
According to latest report: $21m Bonus is allocated for Frankston Schools.
According to RealEstate.com.au:
The average real estate pricing in Frankston as of Feb 28, 2019 are as below:
$6000 to buy a (2 to 4 bedroom) house and $380 per week for a rented house.
How is Frankston High School affecting the growth of driving school business in Frankston?
As, the population and demand for students increasing in Frankston High School these are the targeted customers for a driving school. Students between year 7 to year 12, all need to learn driving, hence along with real estate in Frankston, driving school in Frankston is a booming business.
How is VicRoads affected:
There is growing number of applicants because of factors like growing number of students in Driving School, for driving tests in Frankston, plus the waiting period for booking learners test, Hazard test or even driving test has increased to an average of 15 to 30 days. VicRoads is conducting so many road development projects to accommodate growing population, rebranding with Frankston railway station, increase in frequency of Buses.
In 2019, the real estate is dropping throughout the city, there is an average of 16% increase in real estate and driving schools. The #1 reason for an increase in real estate and driving school is because of the growing demand for the education sector in Frankston schooling.