VIC Unbelievable prices in inner west melbourne

Discussion in 'Property Analysis' started by Hodge, 30th Apr, 2017.

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  1. apk

    apk Well-Known Member

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    apk, 20th Jul, 2017
    #81
    Perthguy likes this.
  2. apk

    apk Well-Known Member

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    After a while I am checking deer park prices, here is another unbelievable price. Do you even make money putting units and selling with this purchase price.

    1 Wood Street, Deer Park, Vic 3023 - Property Details
     
    apk, 20th Jul, 2017
    #82
  3. melbournian

    melbournian Well-Known Member

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    Not sure maybe he could put 12 units (didn't check the zoning) and then sell them for 500K each
    at 6 mil build for 4mil and make 1 mil>? either way if you hold long enough and unit prices go up - it would be a good buy.
     
    melbournian, 21st Jul, 2017
    #83
    apk likes this.
  4. Bayview

    Bayview Well-Known Member

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    I wouldnt be "worried", but I do think we are in for a period of flatline soon...especially if we have a couple of rate rises this year.
     
    Bayview, 21st Jul, 2017
    #84
    MTR likes this.
  5. MTR

    MTR Well-Known Member

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    Agree, booms dont last forever, nice to make some serious gains while you can
     
    MTR, 22nd Jul, 2017
    #85
  6. Zoolander

    Zoolander Well-Known Member

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    Whats the problem if buyers can afford to drop $1.2m on the place down the road? They'll be more affordable areas for other price ranges.
     
    Zoolander, 22nd Jul, 2017
    #86
  7. ATANG

    ATANG Well-Known Member

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    Why surprise? A new townhouse in deer park can easily sell 500k+ each, that site can easily hold 4, 5, making land cost less than 300k.
     
    ATANG, 28th Jul, 2017
    #87
    apk likes this.
  8. ATANG

    ATANG Well-Known Member

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    ATANG, 28th Jul, 2017
    #88
  9. apk

    apk Well-Known Member

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    I spoke to the agent, he said owner will only consider offers over 1.2M
     
    apk, 29th Jul, 2017
    #89
  10. ATANG

    ATANG Well-Known Member

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    Thats why they said land is gold.
     
    ATANG, 29th Jul, 2017
    #90
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