R3 vs R4

Discussion in 'Development' started by Elives, 17th Feb, 2022.

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  1. Elives

    Elives Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    988
    Location:
    Queensland
    Hi All,

    noticed a property sold recently for 1.8m with r3 zoned 1000m2 and another property is now listed in very close area asking approx 2.5m its 950m2 but has r4 zone. my question is how much more do you think a r4 zone is worth paying ? new to this area.

    Cheers Elives
     
    Elives, 17th Feb, 2022
    #1
  2. Ithilien

    Ithilien Active Member

    Joined:
    2nd Jul, 2017
    Posts:
    31
    Location:
    NSW
    Depending on the Building Height Limit and Floor Space Ratio on those sites. Generally R4 are for apartments and R3 are for townhouses, although apartments aren't doing too good on the western suburbs of Sydney at the moment.
     
    Ithilien, 17th Feb, 2022
    #2
    Elives likes this.
  3. Redom

    Redom Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    4,658
    Location:
    Sydney (Australia Wide)
    In Western Sydney its often less than R3 with the new housing code working on R3 but not R4.
    In inner Sydney it can be worth a lot lot lot more.
     
    Redom, 21st Feb, 2022
    #3
    Elives likes this.