Capricorn

KP,

Lucky I didn’t listen to you when we spoke on the phone! I would have missed out on a good deal!
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Mei

The Capricorn Harford Grove stage 2 has just been released for sale. The price for a block has only increased by around $10000 for the traditional lots. This is still a great buy compared to The Reef estate.

Guys,

I’ve been thinking about the concept of building spec homes as a method of investment for some time now, and i’ve lurked around your posts for some time, I too am in Perth and I’m very impressed with the Perthites activities in these forums. I’m pretty sure we’ll take the plunge in the Capricorn project but for those who have done this a few times over (in Perth), what are your opinions re traditional/cottage lots for this sort of stuff. Does the block size have much bearing on the overall ‘end product’.

Seems there’s an awful lot of cottage lots in the capricorn plan.

A quick scan of the spec home builders seems that a sub 15m frontage limits your options or is this not the case either?

Thanks for any feedback you’d like to offer.

thinkbig

Hi thinkbig
I like to stick to (traditional blocks), a minimum of 600 sqm2, 18 mtre frontage.
This will allow me to build the 4×2 – 200+sqm2 home + double gargage.

I always ask RE agents what sells well, and I also look at what the average person/family wants in the particular area.

I am not too keen on building on cottage lots as an investment proposition.
Cheers, M

So how does the new release stack up against the first? I chose not to buy in the first release, but now I’m starting to get swayed by peer pressure!

My main concern – where’s the scarcity value in buying in Yanchep in the longer term? Right now there’s definitely undersupply – prices for established properties are strong at present. But if there’s going to be a constant supply of land coming onto the market for the next 25 years, is long term oversupply an issue?

So I guess what I’m asking is there anything unique or desirable about the current releases that won’t be available in the releases in 1 or 10 years time?

Looking at the map of Capricorn I’d have to say that Harford Grove doesn’t look all that good to me! It’s a lot further from the beach than Lindsay Beach, on the wrong side of Two Rocks Road. $100,000 is cheap for anything in Perth these days, but I think I might wait for the next release on the beach side of the street.

I do like the large amount of public open space that’s been allocated. I wonder if that will be consistant throughout the life of this release, or whether the developers are going to focus particularly on giving the earlier stages attractive landscaping.

what’s the best and most effective way of staying on top of what’s being released with what conditions ahead of time and what’s being planned before people start camping out??

still don’t know what i don’t know

Is this sales agent (Rod) the agent for all land releases North of Joondalup??
This may be the stupidest[blush2] Q this year but… Does he make normal seller’s agent commissions on each block or how does that work??

AUSPROP, do you have an email address i can contact you on??

Thanks Michael

still don’t know what i don’t know

* From the Website*

New Release
Stage 4 Lindsay Beach
Stage 4 at Lindsay Beach is due for release at the end of March 2006. Approvals are currently being finalised with the expectation that the land will go on sale at that time.

Stage 4 is located at the southern end of the estate closest to the Lagoon Beach and foreshore reserve, and is close to all of Yanchep’s natural amenities. Many of the lots will have ocean views and views of the public open space and foreshore reserve.

All the lots will be sold off the plan with an expected selling price starting from around $180,000. For land this close to the coast it will be outstanding an unbeatable value.
Please be advised that not all of the lots on the plan may become available for sale.
You can also view all the anticipated new releases for 2006 and a summary of the conditions of sale by going to the FOR SALE page and clicking on the relevant PDF.

Construction for Stage 4 is to begin in May 2006 with titles expected to issue around November 2006.

We have just purchased a block at The Reef, primarily because one can sell the block without building, unlike Capricorn. Also , futures blocks at the reef are further away from the beach, so thought it best to get closer to two rocks road now.

As for future land being available, I look at Mandurah which is going berserk and there is so much land available.

Marmion Ave is expected to be at Yanchep sometime 2007, so when that happens the floodgates will open up to those who arent thinking about that far up. I remember when Hillarys was happening and everyone thought the blocks were expensive and so far away, and everyone made heaps.

Thoughts anyone?

Brian