Location is everything for home buyers

RESEARCH reveals a single negative could outweigh positives and wipe hundreds of thousands of dollars from your home's value.

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REAL estate is all about location.

And new research has revealed a single negative could outweigh positives and wipe hundreds of thousands of dollars from your homes value compared to others in the same suburb.

Median prices within 200m of housing commissions in North Melbourne have been revealed to be more than $200,000 below medians more than 200m away from the same commissions.

And in Richmond medians of $715,500 were recorded within 100m of housing commissions, while those more than 400m sat 10.4 per cent higher at $801,000.

Paul Osborne from buyers advocates firm Secret Agent, which conducted the research, said it had shown boosted prices around popular lifestyle hubs in the same areas and indicated buyers may need to be wary of some parts of the otherwise perfect locations.

"There's no question, unfortunately, if you are that close to housing commissions there's a pretty strong case that there's a negative effect on prices,'' Mr Osborne said.

The wrong neighbours can also make it hard to find a buyer.

Sean Dillon, 43, bought his Frankston home twelve years ago after it sat on the market for 12 months.

Frankston Cemetery across the road had proven a tough selling point for the Clarendon St home - but it was perfect for the gravedigger who figured he'd get a job there.

But with mortgage repayments "killing me'' Mr Dillon is now hoping others won't see it as an impediment.

"Being opposite a cemetery is a big factor, but I think they are the best neighbours you can have,'' Mr Dillon said.

"You don't have an argument with them, they don't come over and tell you to turn down the stereo and you don't get barking dogs.''

Trent Martin, from Bayside Residential, said he hoped the house's location in Frankston's Golden Triangle would tempt a few people to attend an open for inspection being held between 11am and 12pm today.