Hi all
I've just been to some new lands including the Saltwater Coast estate, Point Cooks. Then there's this Wyndham Harbour estate too. I surveyed that place and wonder
1. Anyone really knows where's this Wyndham Harbour is going to be and how big is the estate? To me seems just a few rows of houses (from the website)
2. The Saltwater Coast Estate (Point Cook) seems like a viable investment property, after viewing the master plan etc. Was told to be the estate nearest to the bay in Western suburb to date (well….not until we know there's Wyndham Harbour). just sales talk. I did some survey around the bay there and it's full of seaweed, that "beach".
3. Apparently the cost of land doubled since last year.So the question is, Melb western suburm like those mentioned above, is it a worthwhile IP? Or am I just wasting my time after all?
Hi, I have bought at Wyndham Harbour. Stage 1 was 70 lots and sold in pre-sales. The whole development is only around 240 lots.
It has all the key drivers of high growth, infrastructure, water and above all scarcity.
Like other waterfront property, you would be looking for growth, rather than positive cashflow.
I have spoken to 3 others who have purchased. I have done it for capital growth, another was a developer looking to onsell and 2 couples who were planning to live there. I am aware that a number of the prime waterfront properties were purchased by a large developer for resale. It appears generally that when the developers have onsold, most properties will be owner occupied rather than rentals.
My lot (350 sqm with partial water views) could be onsold at the right price.
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