Olivia Cornwell with her dog Elphie, 4. She is selling the home she bought with Riley Maringoni less than a year ago. Picture: Ian Currie
They say you can’t time the market, but for Frankston North’s Olivia Cornwell and Riley Maringoni the past year has been the perfect property play that’s set to earn them six figures.
The pair bought their first home, and a place for four-year-old cockalier Elphie to enjoy, at 83 Rosemary Cres for $570,000 in February last year after an almost five month house hunt.
Less than 12 months on, the home’s value is estimated at $690,000 — and they’re preparing to sell.
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Across 2025, the suburb has become Melbourne’s top growth hot spot, with the median house price jumping about $112,000, according to PropTrack’s latest data.
For Ms Cornwell and Mr Maringoni, the timing has been incredible.
“We had come close three or four times, but other people just wanted it more,” Ms Cornwell said.
“Then this one came on the market and we were on holiday so we had to call in on the phone for the auction. And we think that was on our side, as we are quite young and the other bidders couldn’t see that.
“And the very next weekend felt like it had spiked (prices) again.”
Olivia Cornwell and her dog Elphie, 4, at home in Frankston North. Picture: Ian Currie.
Midway through last year, the pair were shocked to attend a nearby auction and watch the home sell for $150,000 more than they had paid for their home.
While they felt the suburb still had a bit of a stigma to it when they were looking to buy, they had noticed a growing share of homes selling to families and young couples — changing the suburb’s vibe in the span of the past year.
“People were asking us if we were sure,” she said.
“But there’s a lot of families that bought into the area while we were looking and I think it’s had a bit of a turning point in that past 12 months.”
The home as it was when the pair bought it last February.
OBrien Real Estate’s Mark Burke sold the home will handle their auction in February, and said the area was being buoyed by high demand from first-home buyers competing with investors and the number of homes for sale declining over the past 12 months.
He’s expecting even fewer homes in the area to hit the market this year, paving the way for another growth year — though a more modest one with expectations the region’s houses will gain 2-3 per cent.
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