Hi everyone, I'm looking for people's thoughts on purchasing land with the plans to develop and sell at the new estate at box hill "the gables". The land isn't going to be ready for at least another 18 months before it can be built on, but I would need to lay down a 10% deposit now. The cheapest blocks (450sq) are $540k+ and up from there. Then another 400k to build, let's call it 1m total. What would a half decent house in Sydney's northwest be worth in 18 months? I'm just wary as who knows what could happen in 18-24months to interest rates, house supply's, etc. peoples thoughts? Much of a risk, or can't go wrong?
I know that area well, and I think 1200/Sqm is overpriced considering they have to sell like 5000 lots over about 5 years and that was their first release.. Box Hill is nice but there's a lot of land between the gables and Windsor rd cause it's more so Oakville than Box Hill. It's 10-15 mins away from public transport which may hold it back..you can still get Schofields at 1250/Sqm in some estates.. Also keep in mind the cost of construction will go up a lot more.. Anyway, @Jacque is in that area a fair bit I think it's worth asking her
$1200/sqm at Oakville!? That's INSANE :O Was interested to see the prices they made, but I agree that there are better options elsewhere. At least with Schofields, it has the large train station, it's close to the new North-West Rail Link, close to Windsor Road, close to Richmond Road, Norwest Business Park, the soon-to-be Marsden Park Business Park, etc.
