Hi IDH,

Your post caught my eye.  Interesting position to be in.

As you are going to revisit your feasibiity to determine sales prices and whether to go ahead with your project now or at a later stage these would be my suggestions:

1. Speak to real estate agents in the area and ask their advice regarding the current market based on your properties, ie 3brm, 2 bath, double gge, xx size private open space and finish ie. basic, moderate, deluxe etc. etc.  Being as specific as possible will ensure that similar sales are used as comparisons.

2. Do your own research on realestate.com.au and see what similar properties are selling for in the surrounding area.

3. You could ask builders the price per square metre for building costs and do some calculations yourself, taking into account other types of costs such as contributions etc.  A town planner should be able to provide you with details to use as ball park figures

4. Ensure you factor into your sales price a contingency allowance, say around 10% and your minimum required profit to proceed.  You also need to ensure you account for the GST.

5. One cost that people discout when do a feasibility is the holding costs such as interest.  Coverage across time of construction as well as worst case scenario in the event that the properties take a little longer to sell.

You should be able to get rough estimates of costs to enable you to determine whether it is viable to go ahead in the current market.

Hope this helps and good luck.

Cheers

Martienne