Hi
I've just come spoken to a developer on the Gold Coast who can develop 4 3×2 highset units including purchase of the land for about $300-350k a piece. I've been looking endlessly trying to determine resale values on new villas. He's quoted resale prices at $450-500k which I think is a bit of bs, however I have come across some townhouses sold in this price range, however this was in June 2012, things may have changed a little since then.
Does anyone have any experience with similar deals on the Gold Coast specifically, or advice or general opinions? I'm from Perth and always thought Qld was over priced and didn't compare to Perth, but since seeing it and looking at the buy, develop and sell prices it seems like it could be a winner if I can just verify the resale values.
I bought access to RP data's Labrador sales history for the last 12 months, however this didn't really give me anything useful…
edit – these are townhouses/villas not units per se
Do more research
Look for stock on market compared to this time last year.
Vacancy rates over last 12 months and how is this trending
Days on the market and vendors discounts are worth looking at.
These things will give you a feel for the area, then it is a matter of finding similar properties
As an example if you can find similar properties then the vendors discount from their advertising price is a good place to start.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
