Interested in peoples thoughts here….
The large vacant block at the back of a townhouse development has recently had an approval for a develipment of 70 apartments. They are two bedrooms on avg size (80sqm)
they are on a entral road, however the townhouse behind it is facing a quiet residential street. What Impact would a development of this size have on the surrounding properies..in terms of capital growth. Ive spoken to a few people and get conflicting ideas. One – it will have a detrimanetal affectt..glut of housing accomodation impact rents in area and capital growth…the other is that it will have the opposite affrect as a 3 bedroom townhouse would be unique to what is on offer?
Only time will tell-but would be interested in people opinions or experiences
From my observations, it will only have an impact on rents of similar types of dwellings (so the 2 bedder apartment/unit market).
Houses around will do their thing almost independently.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
thanks for your response Jacqui,
my only other concern is the unslighltly view of the apatment building (ground + 4 levels).. I was toying with the idea of building a mini pergola, roofing over the courtyard to have as an outloor under cover setting. area. The townhouse is a 3 bedder and this will do nicely as it will blend well with the indoor living area-that has sliding door that opens up quite wide
This is looking more like the direction I'll take.
would be interested in other peoples thoughts on this as well
You must be logged in to reply to this topic. If you don't have an account, you can register here.
