VIC Epping house and land ?

Looking at investing in a house and land package in epping, north of melbourne. I currently have properties in sydney and want to diversify into vic. Prices are cheap compared to sydney, you can build a 3x2 for around 350k finished. Epping is 26 km from melbourne and has good transport and amenities. I've never bought h and l before but thought it would be a good way to learn the basics of development with minimal funds and risk.
What is the rental situation like for this product in this area ? My main worry is capital growth as they will release more and more land but then. Melbourne is expected to grow a lot population wise. I guess I expect prices to go up because it is so cheap relative to sydney for a location not so far from melbourne city. Thoughts appreciated !

 

I do not how much you lean about property development by buying a H& L package unless you become an owner builder.

Lots of new properties in the area. Some parts have commission houses than others.
Check for annual growth, rental yield and sales history for the last few years to get an idea whether the growth is sustainable.

 

Probably best to focus on the area south of Findon Rd, or ideally south of McDonalds Rd.

 

This area looks good too me.
Close to schools,transport and shops

 

I would avoid buying H&L packages in the area.
There is allot of empty land in the area and there are other areas such as Wallan that have allot of land available. You will find either no growth or in most cases negative growth due to an over supply!!.
Cheap does not mean you are buying well!!

 

Thats a big retirement village to the east of the reserve.

 

Ok thanks for the info ....looks like I should stay with an established house than rather than h and l ? Was thinking of trying a new technique to maximise tax deductions from depreciation. Wondered whether renters and buyers would prefer a brand new place further from amenities vs an older place near amenities.