VIC Melbourne Outer Suburbs - reasons why growth has headed there

Hi All

Some good articles giving a clue as why growth is now heading to West and North/West Melbourne Outer suburbs in particular

Melbourne's love affair with the Great Australian Dream

Renting in Melbourne getting harder as affordability worsens on the city's fringes

I would however, caution at some point even in these markets due your own due diligence they are not all the same and rental demand may vary greatly from today to tomorrow.

 

But there's no money in H&L, endless supply of land and all that

 

yeah...the bloody estates are all delaying the titles both cnstruction companies and councils cant cope with work loads

 

Tell me about it. It's also Land Vic (LTO). They are taking 4 weeks to register titles. It's killing me on both sides (seller, project manager, and buyer).

On the positive side delays are meaning my lots under contract are going up with very little deposit. But on the negative I'm further away from building, renting and revalueing.

If I hadn't had such big delays I'd be expanding my portfolio further.

 

Same here.....

 

when I was building L&H in boom times Perth titles on average for blocks were taking 6 months and building/construction time was 18 months on average

 

While the land is still not yet registered, are you already paying interest on the bank loan or not yet because it means it hasnt settled at that point?
Once construction begins, this means interest on land should already be paid right? Are you taking out construction/progress loans?

Sorry just wanted to understand the holding costs for the build.

 

You don't pay any interest until you settle.

Construction loan sees your interest increase as each drawdown occurs.

LDs cover you in the event the builder goes over contract.

 

Titles for homes 6 months is good.

Construction for house 18 months is insane. What Contract period where builders signing up too?

 

Boom of 2001-2006 Perth property riding on the tails of mining boom