Dulwish Hill

I know that block of flats and that view. It's a really good spot. That golf course floods once a year or so, but those flats are on an elevated block so they are okay - the block across the road and 50 metres down the hill are not okay.

 

That's awesome - the golf course will never change into housing then. Views always retained. And since its a better block than the neighbouring ones, it should always attract a premium.

 

I saw them build that block down the road as I occasionally go down that street. They put parking in below ground level. I said to the builder, 'You're not a local, are you?'
Once a year or so there is a big storm that coincides with a high tide in the Cooks River. The first time it happened, I went past the next day and saw a dozen cars in the underground parking with water up to the top of their bonnets.
Developers do salivate over bits of the golf course, though. It's a council course and probably underused and there is a lot of pressure in the inner west for land.

 

If it's community land then there's a long drawn out process to get a reclassification and planning proposal approved to get it into operational land which can be sold - unlikely but not impossible.

 

Made me laugh! In the current market (and in the suburbs where prices are going nuts) it seems to be downsizers with cash to burn who have sold their massive homes and are now looking for 2-bedders that are pushing the prices up! Case in point... Retired couple buy one-bedroom apartment for $1.51 million

 

We actually bid at this auction but missed out for one of our investor clients - too much interest that pushed it above our max price appraisal this time ($700K). Luckily we located an even nicer and larger unit in a nearby (and some would say more prestigious) suburb and recently exchanged unconditionally. Sure, sometimes the search takes longer and you miss out along the way, but as long as you're realistic on market value you'll find something @Dean Collins. Happy hunting