Has anyone done some research into the average percentage increase of land in “New Estates” – only?
Reason being, I’m looking at purchasing a block of land in a new estate (in one of the earlier stages) though to make it worth while I need the value of the block to rise at least 15% each year – for a minimum of 3 years.
With the market how it is, I’m not to sure whether it will achieve this or not….
The estate has only released 3 stages so far, and there are plenty of infrastructure plans – plus it’s on the coastal strip of Perth. It doesn’t have ocean views – though the beach is only about 8mins walk away.
Cheers
Wayne
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
http://www.homesearcher.com.au – List your property for FREE (Private sellers only)Hi Wayne, I can give you a couple of ideas.
Firstly, you could contact the developers direct and ask for sale stats on each subdivision and dates sold, though this may not be the best way to go.
I personally would contact Hegney Property Group, they circulate free monthly newsletters and have been spot on with the WA real estate market over the years.
They should also have list of land stats, but this may cost you. I have had great feedback from the various valuers I have dealt with and I recommend their service.
Regards, Marisa
Hi Marisa,
I personally would contact Hegney Property Group, they circulate free monthly newsletters and have been spot on with the WA real estate market over the years.do you call them or email them or do they have a website to get the info from?????
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonHi Calvin
email address: http://www.hegney.com.au
Phone: 9489 9489 this is their Subi office. They also have regional offices.
I actually phoned requesting copy of the newsletter which can also be emailed direct. As stated this is free.
Apparently there is a report they recently published – may be about $40.00 it provides an overview on areas which are expected to do well over next 10 year period based on research, pop etc.
Perhaps someone on forum has purchased this report and can comment. This is on my shopping list, I will provide some feedback down the track.
Good luck.[biggrin]
Thanks Marisa,
In most of the areas I’ve been looking the land has increased in value by at least 20% for the last 2-3 years, though with the market slowing, and keeping in mind that land prices are getting quite expensive compared to established – I’m not sure whether this trend will continue?
What do you think? Do you feel the Perth Market is going to maintain growth over the next couple of years (eg, areas such as Mandurah, Rockingham, Yanchep, and so on)?
Cheers
Wayne
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
http://www.homesearcher.com.au – List your property for FREE (Private sellers only)Hi Wayne, from what I have read lately by various ‘experts’ it is not likely.
Also, it has been well documented that there is going to be alot more land released this year which will most likely stablise land prices.
Areas which are now being recommended are: Como, Kenningston, Mt Lawley, South Perth, Applecross, Nedlands the older areas which have proven record of over 10% capital growth over 30 year period. They dont expect the double digit CG figures we have recently experienced to continue.
I am not an expert but I would just make sure you buy in the best possible location in the area. As close to the beach as possible if coastal is where you want to buy.
I am sitting on the fence at the moment, as the rents are so low, and quite happy to see what happens over the next 12 months.
Cheers, Marisa
Hi Marisa,
In regards to “alot more land released this year” – where have you read this? And do you know which areas they plan to release alot of land?
cheers
Wayne
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
http://www.homesearcher.com.au – List your property for FREE (Private sellers only)it may well be true, but Hegneys have been saying this for some time yet the releases are still to catch up. trying to get titles is still generally a 4 to 6 month wait.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
Hi Wayne,
have read a few articles on this subject one in the West and the others God Knows. some time back now.
No specific area mentioned, 20% + increases are not expected to occur due to these ongoing land releases.
Sorry, this is not too helpful but certainly something to keep in mind as this could really impact on your strategy.
You seem to have made all the right decisions to date anyway. Good luck to you.[biggrin]
Thanks Marisa, and others who replied:)
Thought I’d let you know – I’ve taken the bull by the horns, and have just put an offer on a block! Its located in the far northern coastal suburbs of Perth – they’re asking $190+ so I’ve started my offer at $175k:)
I just placed it then, so I’ll let you know how I go!
Cheers
Wayne
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