I'm looking to purchase a duplex development site in (slightly) regional NSW and I have the following criteria: -Ave land (450m2 plus) $200k -Average house price $550k -Pro development council Not quite sure where to start my research- I'd be really keen to hear your suggestions!
There are loads of options that fit those (roughly) criteria although pro dev council is a loaded term all councils allow some dev if their policies are met and will reject inappropriate DA's. I would add you need: - tight rental market - healthy sale market - improving population/demographics Lastly the hardest one - profit potential
Cannot see this working out at all able to find a block of land for 250k where the avg house is 550k ? unless your talking about some estate where people have built brand new houses
When you say 'slightly regional', are you referring to Wollongong, Newcastle etc or more towards Bathurst, Wagga etc?
Would you be able to provide an example of a town where this exists? House values of existing houses are not usually $300k (unless your in a housing estate where there are 300k new houses).
it can be tough to make the numbers work in an area where the land value is low. I've done a few feasabilities in regional NSW and lower demographic areas of Brisbane and the numbers are tight.
Regional actually meaning the closest I can get to the city- where I can get land at $200k for at least 450m2. Blue Mountains seem to not be so pro development I've found...