Buy land/subdivision/build duplex in Sydney?

Just wondering if anyone thinks buying a block, building a duplex and Torrens title subdivision is still profitable in Sydney?

I believe Sydney still has legs over the long term. But current market conditions make land acquisition and building costs difficult. Getting a builder to perform the contract is also a challenge I heard.

I want to stay in Sydney as it would be my first project.

Are there pockets within Sydney where this is still a valid strategy? Aim is $1M for land and <$700k build...

 

There are a range of factors that will mean making a profit is harder than you think:
- GST on sale
- Not using margin scheme for GST on sale
- Ordinary tax on profit IF you make one
- Duty on land / house/land
- Mistakenly buying land from a developer in a new estate
- Long holding costs
- Demo
- Council fees and subdiv costs incl connections
- Common property costs ie driveway, fencing
- Plans / design
- Selling costs
- Strata issues
There are some duplex specialist project builders who may be a help to check on pricing etc. Some boast knockdown, rebuild etc

Duplexes arent really big enough to make enough profit IMO. I often see people who baulk at 3 to a site too.