One side of street zoned rural the other residential

Discussion in 'The Buying & Selling Process' started by SarahM, 21st Apr, 2017.

Join Australia's most dynamic and respected property investment community
  1. SarahM

    SarahM Active Member

    Joined:
    21st Apr, 2017
    Posts:
    39
    Location:
    NSW
    I'm looking at 2 empty blocks of land the same size opposite each other almost, One is zoned rural and other residential, prefer the rural one as has nicer view/outlook. The rural one is selling soon, it will remain rural zoning, but other one residential block not for sale as yet, will the residential one cost a lot more due to different zoning? Does it matter investment wise which one I buy? Will the rural one have lower council rates etc? I'm not familiar with rural property.
     
  2. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,517
    Location:
    Melbourne, Australia
    To many variables and not enough information to answer sorry.

    Rural rates are less compared to residential but you cannot do as much with the land.

    My parents live on 5 acres in residential and they pay about the same as what a 120 acre rural property about 2 mins away pays.

    However if it was a 5,000 acre rural than it would be more expensive than their 5 acre.

    If one side of the road is residential with the other side being rural and you were looking long term the rural block could be a land banking strategy because if the zoning changed you would likely be able to do what the residential side can do now.
     
    SarahM likes this.