New vs Old - What do you think?

@MTR
yeah but mine are boring... just take a look at your current one. Best to date!

 

not at all, I like all your avatars

 

OK now there both somewhat racy

 

Oh ok well given your guessing i had better change my investment philosophy...

 

I disagree based on my experience working for listed and private developers in both development land sales and acquisition roles. Just because a couple of inside jobs have happened before doesn't mean every parcel of land out there has been stolen and revalued up after rezoning.

Yes syndicates transfer risk to shareholders, but many of these syndicators also take a significant shareholding, and also carry out 100% company owned projects.

 

No none cares what you do, if you feel like some attention go post some sob story on Facebook

 

What?!?!

I must be missing something here....

 

Harsh and unnecessary don't you think?

 

Spend 10min reading through this old Somersoft post.
Butler - now on the investment map - Somersoft Property Investment Forums
Note in that SS post Butler H&L was at 357k. In this post your friend now suggest "...put a product in at Butler at 345k (4x2x2)". there is instant 12k equity on the build

And have a look at some of these comparable
4x2x2 Sold for $362,500
Sold Price for 19 Prenton Street* Butler WA 6036

4x2x2 Sold for $370,000
61 Ulverston Way, Butler WA 6036 - View Sold History & Research Property Values - realestate.com.au

4x2x2 Sold for $400,000
Sold Price for 51 Redington Drive Butler WA 6036

In the opening SS post "The one I built [in Butler] for 357k is now worth 450k and is likely to hit 500k".

I do not find any comparable for a 4x2x2 400m2 2013/2014 built that is sold for 500k or 450k

 

No doubt Perth market has fallen dramatically. I wasn't in this market place, but anecdotally understand that the market got pretty crazy over there due to the mining boom.

Maybe I wasn't specific, but I am operating in the Melbourne Market, which is strongly driven by net migration, hasn't had crazy growth due to a resources boom. I believe the fundamentals remain strong for affordable property in growth areas of Melbourne that remain connected to employment opportunities.

 

375m2 land for 280k plus in Butler? Does it come with a Butler as well?
You better look harder then?

FOR SALE -
Butler - 360m2, under contract for 190k-200k
3 Prenton Street Butler WA 6036 - Residential Land for Sale #201393078 - realestate.com.au

Butler - 352m2, this has been selling for more than 1 year., initially listed 235k-245k, now 195k-205k and still no offer
91 Hollyford Parade Butler WA 6036 - Residential Land for Sale #201136475 - realestate.com.au

Butler - 384m2, 195,000 price reduced plus bonus
Lot 1252 Santorini Promenade Alkimos WA 6038 - Residential Land for Sale #201475990 - realestate.com.au

SOLD ( per PriceFinder, from 1 Jan 2015 - Current, 350m2-450m2)

I don't see anything comparable lot sold even closer to 250k, though I do see evidence of 5-10 year old dwellings on bigger lot size selling similar price as new dwellings on smaller lot size.

 

Sydney had strong fundamentals too, but admitting it is cooling off. The foreigner tax introduced in Melb might put a spin on the market. Melb isn't that far behind Sydney in terms of growth in the cycle. When Sydney sobers, Melb will have their last drinks.

 

It would be interesting to see if there are ever any exceptions to this fundamental equation. I don't know any?

 

Ok ...just a couple of points for consideration....

1, Prenton St and Santorini Parade are rear loaded blocks? What the chances a front loaded Block with some Ocean views from some angles might be worth a bit more?

2. Hollyford Parade...well did you look at the sat photos...could it be priced at that amount due to it being near a roundabout.

One of reasons why you need to look at stats and other factors.

By the way...mine is still worth 420-430k comfortably if not more....even with firesale prices. Just letting know...well it is still rented for $445pw. does that give you a clue???

Over to you to misrepresent the facts.

 

Not withstanding water views.

 

So I just searched "1 Jan 2015 - Current, 350m2-450m2" in Price Finder for the entire suburb of Butler...and you're saying none of these provide a fair comparison to YOUR land?

Can you provide a specific sale that supports your opinion "Last time I looked Butler is now sold out of land and land in the region for 375sqm block starts around 280k plus."

Is your opinion that Butler 375m2 worth 280K plus any where closer to the PF comparable?

"...mine is still worth 420-430k comfortably if not more", this is House+Land you're referring to ..are there any comparable you can share with us?

 

Do ya think there is a difference in pricing between rear loaded and front loaded properties?

As for the last one...do ya think being near the new Butler station and amenities is worth another 20-30k ...and being within 1 klm of the ocean is worth money?

As you can see some very nice homes for fantastic prices..what the chances you can get that in any part of Australia?

Good to know that your reliance on stats does not consider any subjective critieria...hope you did not make that mistake on your purchases in other areas?

 

When you share your numbers on your property I will share mine. In which case it get pulled out to be use again out of context. Not arguing that Perth is down...when I pulled equity out of Butler it was vlaued at 455k by the bank.

Oh wait...my bad....it is coming to me...I remember you can't share your successes due to privacy reasons..did I get that right?

Over to you.....

 

I am asking for your comparable sales to support "Last time I looked Butler is now sold out of land and land in the region for 375sqm block starts around 280k plus."

These are not stat discussion.

What if your bank valuer handed down your Butler property is now worth $380,000. I am just asking your logic and support evidence of what you're claiming and how you arrived those figures.. Is that too much to ask?

"mine property is worth this <insert $$ here> " isn't the acceptable from wider audience.

 

Quite possibly the foreign tax could encourage foreign buyers to look to H&L packages due to the lower land tax component.