VIC Post up on new land releases in Melbourne

Somewhat of an effort to give back to the community that teaches me loads everyday, here's a thread for folks to post links/pictures/thoughts for new land releases in metro Melbourne.

I'll kick this off. New land in Cloverton coming up. The decent blocks have inane prices, the cheaper ones are irregular and/or have low depth:



For more information, email Scott Watson.

 

Yep seems too high. Im looking at Olivia estate 400sq for 265.. even thats not really cheap tbh. They are releasing stage 2 in the next month too.

Also, land coming up in mickleham

Also these:

Kinbrook

Annadale

 

Good thread to start westie...And you are right the prices for Cloverton looks insane at the moment.
But it is what it is the market at the moment in Melbourne.
Stockland's highlands estate in Craigieburn is almost finished and it's a nice new-look community. This might turn out to be the same, you never know..

 

Cheers Amar.

 

New land coming up in Auroura. Email their team here for more information > [email protected]

 

WoW, 200k plus for 255m2 land in Auroura, a single lane road is the only access to that area and even on Saturday or Sunday mornings, will take you 30 minutes just to get to Epping plaza.

 

Why are you not going to Crageiburn Central then?

 

Given its around Melton, the Atherstone estate gives an affordable price range for decent size blocks to put decent homes on (not cockroach houses like @sash would say). It's probably one of the very few area where there's still a 1 in front of the price tag. 292sqm is on sale for $171k. 348sqm for just over $200k.

Check it here > Atherstone Land for Sale Melbourne - Lendlease

 

Some new lots being released in the Cornerstone estate in Werribee if anyone's keen. I suggest doing a lot of DD with these estates. Some of them have nothing going for them. 400sqm in this estate can still be had for sub $260k.

 

I also found Olivia a bit on the expensive side, they are almost charging the same price as woodlea so there aren't really any discounts.

Not sure if it's just me but the estates on either side of town are getting further and further out without much of a discount for being that far out.

 

Well it's not a buyer's market, so there wouldn't be too many discounts these days. Most would do a landscaping rebate or something of that sort and probably no more.

 

Yeah considering most estates don't really need to do anything to attract a hoard of buyers it's no surprise.

 

Bridgefield are releasing stage 11B shortly. though stage 10 isnt sold out yet. Anyone here on PC bought into Bridgefield?

 

Here's another one. New stage being released in the Truganina Elements estate, TODAY, if anyone's keen. I suspect the $246k price tag will be for the cockroach house blocks (sub-300sqm).

 

Does it still makes senses from IP point of view to buy in Cloverton or for that matter anywhere in/around Werribee?
270K for a sub 300 block and 180K for 3x2x2 build so the end product comes at 450K which isn't too bad given the hot market Werribee is currently.
Add to that the land settles in 2019 and build finishes up in 2020, there could be a potential 70-80K CG? @teetotal @Westie

TA

 

Who knows how the market would be in 2020?! Too far off IMO for this to be a safe investment. I wouldn't do it mate. Like everyone says we've had the boom going for 4-5 years, quite unlikely it'll keep going to 2020. I'll let the more experienced folks chime in for expert opinion.

 

I think it depends on how much CG you are after. As you mentioned, if you are happy with 70-80K then it's highly possible (may not be in werribee though). However you need to think if it is the right investment for your goals.
Personally, I'm still planning to go for another 1-2 of these products but obviously after researching the right location and a good developer.
Just make sure to do your research, look around and shop around. Always check the developers especially with these long settlement times.

 

Great thread. One small question for the experts When the land release occurs, they usually want you to be there in person. So me being away from Melbourne, what is the best way to reserve a land on release day ? I have been looking at getting a small block too but I am always told I have to be there

 

Yeah that's how it usually is. A buyers agent may be able to do this too, best to ask the estate to be sure. Cheap flights to anywhere in Australia, I'd just fly in to Melbourne and get the next flight back?

 

Thanks Westie. So which estate is worth flying to then