All Topics / General Property / Effects of new housing estate on existing prices?

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  • Profile photo of marklesliemarkleslie
    Member
    @markleslie
    Join Date: 2007
    Post Count: 19
    September 9, 2008 - 9:13 pm

    hi all,

    I am thinking of investing in a mining town in CQ that is returning around 7-8%. Vacancy rates seem to be low, however there is a new land subdivision of about 50 blocks that has just been sold and I am assuming houses will start to built in the next 6 months.

    Will this negatively impact on current housing prices and rents, or do you think will have a positive effect on current house prices. There is a new mine that is going to be opened within the next 5 yrs.

    Any predictions would be useful.

    thanks

    Profile photo of ummesterummester
    Member
    @ummester
    Join Date: 2008
    Post Count: 510
    September 10, 2008 - 1:16 am

    Depends on how tight the area is and the cost of the blocks, I reckon.

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