I have been keeping my eyes peeled on a few regional towns and I have noticed a small trend.
Houses that are a few years old aand round 27 to 40 squares in size, are pulling reasonable sales figures.
In one town the average price for a quarter acre block was between 37 to 50k. A new house that hit the market was 27 square, 2 weeks old and was only on the net for a week and was sold for 360k (I imagine, it was listed for 385k), with similar stories for a few other area’s.Seeing though I have only been net tracking for a few months I was wondering if this is a common occurance as I wouldn’t mind donning the nail bag and grabbing the Paslode and slapping up one or two! [rambo2]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
<<<and was only on the net for a week and was sold for 360k>>>
Depends where. But I find it hard to believe. You can buy an older style house in my area for that price, in Melbourne bayside surburbs for $360k that is about 5-10 mins casual walk to the beach and station and about 25kms from city.
So why would you pay that much for a rural property.
It looks as if Mysta is saying that he sees an opportunity here.
However, unless one is a builder, I doubt there is. (Even then I have my doubts).
Anyway Mysta, I have no idea what you mean by ‘regional towns’. What size population ?
Pisces
Quote:Originally posted by Pisces:It looks as if Mysta is saying that he sees an opportunity here.
However, unless one is a builder, I doubt there is. (Even then I have my doubts).
Anyway Mysta, I have no idea what you mean by ‘regional towns’. What size population ?
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Around 7 to 12k pop towns, regional = 350+Klms from Metro area’s.
Why would you have reason to doubt what I have stated?
The only cost associated problem I can forsee is getting materials and a few trades there, that may add extra cost to a new dwelling in Regional area’s and transport of goods but I have the truck.I can construct a new home from scratch except for Bricks, Concreting, Plumbing and Sparkie work.
If these trades were to costly I could supplement this process and construct the footings using peirs and uni strutts with timber flooring and use blueboard, cladding or Hebel for external walls instead of brick.I have crunched the numbers and if Block = 50k and house = 150k sale prices are 360k then what else is there? Build it live in it sell it (None for you Bob)
There’s an old car yard saying “there’s a bum for every seat” by that I mean most people have a concept of small towns having relatively low prices and this can be true to some extent, but I have seen prices for some homes in the bush going for near the same money as some outer Sydney metro homes as well.
So I guess I will have to show some spirit and just be an Aussie and have a go ya mug![thumbsup2]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
Originally posted by yack:<<<and was only on the net for a week and was sold for 360k>>>
Depends where. But I find it hard to believe. You can buy an older style house in my area for that price, in Melbourne bayside surburbs for $360k that is about 5-10 mins casual walk to the beach and station and about 25kms from city.
So why would you pay that much for a rural property.
I dont know Yack, maybe you should ask them……….[blink]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
I basically said so, Mysta, because in a small town the number of prospective buyers is a lot smaller, tradespeople may be harder to get and the cost of building a lot dearer (both from a material and a labour – i.e. tradespeople – point of view).
But, hey, if you think you can do most of the work yourself, go for it.
I’ve recently seen a house like that built by the owner at some ridiculously low price.
The idea of living in it and thus avoiding having to pay tax on any profits is a very good idea.
Pisces
I am glad someone has something positive to say!
Thanks for your + input and support Pisces.
We are off to the bush now and I am sure we can find some time to see a few house’s and lumps of dirt and fit in quite a few schooners all at the same time!“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
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