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Regional NSW

Discussion in 'Where to Buy' started by Sydneyprop, 21st Aug, 2016.

  1. Sydneyprop

    Sydneyprop New Member

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    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!
     
  2. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    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
     
    Brady likes this.
  3. gach2

    gach2 Well-Known Member

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    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
     
  4. Sydneyprop

    Sydneyprop New Member

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    I'm unsure why this would be tough criteria?
     
  5. Mac Fields

    Mac Fields Well-Known Member

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    When you say 'slightly regional', are you referring to Wollongong, Newcastle etc or more towards Bathurst, Wagga etc?
     
  6. Danmicb

    Danmicb Active Member

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    Blue Mountains :)
     
  7. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Thats not slightly regional NSW... I'd say outskirts of Sydney
     
  8. Danmicb

    Danmicb Active Member

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    :p i agree. lots of people don't though.
     
  9. gach2

    gach2 Well-Known Member

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    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).
     
  10. beachgurl

    beachgurl Well-Known Member

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    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.
     
  11. hash_investor

    hash_investor Well-Known Member

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    well...
     
  12. Sydneyprop

    Sydneyprop New Member

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    Location:
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    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...