Sorry to post again but, Regarding the Melbourne market can anyone say if the Tarneit and Point Cook areas are overvalued with land lots priced around $180000 for a 740-800 sqm block, Would i be better looking to the northern or eastern sites.
I have been told that $243 per sqm in Tarneit and Point Cook is overpriced especialy with a house to build as well, any general thoughts about this area would be great as i have no hard experiance of the Melbourne market.Don’t know Tarneit at all. Pt Cook has massive new housing out that way and the growth corridor out from the city through Caroline Springs has been huge and I see it continuing as it is cheap compared to going out the other side of Melb. Is the block on an estate with good quality homes around it. There are some very expensive estates out that way. If its a block left on an estate with all quality homes two storey homes around it, it is a different matter to a block in an estate where there is still lots of land and only middle class single storey homes. You really should look up other blocks/homes in the specific area, work out costs for the sort of home to build (not overcapitalising against other homes on the estate)and see how the figures come up
Fern
Hi Fernfurn,
The few Lots i have been looking at in point cook are large blocks over 750sqm with strict building codes etc, they all seem to be corner lots for some reason with a mixture of double and single storey homes mainly built by Simonds and Metro i think.
I know the cost of the homes i want to build are $235000 when i add the land at $180000 i am looking at $405000 i have seen the same type of 4 bedroom 2 storey houses for sale at $390000+ in the local area thats what made me ask is the price i am been asked to pay to high? when i compare it to some developments north of Melbourne and north east of Melbourne with house and land packages coming in at around $475000.
I have been told by many people that North and North east is much better than Point cook due to the heavy freeway blockages at Point cook during peak times in comparison to entry into the cbd from the north and north east and also the general area to the norh and north east is a little better to live in than the Point Cook area.
Investing in Melbourne makes Queensland look like a walk in the park even the property and land agents and sellers are a bit more cut throat than Queensland which i thought i would never say.
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