VIC Werribee Werribee!

Maybe unrealistic expectations by vendors? Maybe people are rushing to sell, hoping for gold. There have been plentiful sales in the mid 400's too. Like @Barny said, maybe you're looking at the higher end.

 

5 Nuragi court sold for 635k- its an irregular block limiting sub-division possibilities. Most properties there are under 500k or just over but this one is well over - Is there something with that area which I am missing?

 

Sold 10 Gossamer Street, Werribee VIC 3030 on 12 Aug 2017 for $405,000

Wow, the buyer did really well getting this for 405k, seems like it's close to everything. Am I missing something?

 

That is a great buy!

Mine is near by...and I have been quoted 450k plus...perhaps....the condition was an issue.

 

Great buying at that price

 

Tiber close has been for sale for ages. There really doesn't seem too much wrong with it but I guess it doesn't really present well when the tenants are around at the opens (at least they were when I went through anyway).

Other thing is Chinese won't like it because it's number 4.

 

Yeah agent said it's been on the market for 10 weeks when I asked him which I was surprised by. Tenants weren't home yesterday when I went through. The agent did say there had been an offer at $450k with a condition that the house had to be painted but the vendor wasn't keen on doing that.
Still surprised it's been up for so long given its fairly close to Pacific Werribee

 

Try 405k and see what happens?

 

Which property are you talking about?

 

Tiber - asking is $440-450k. If vendor knocked back $450k conditional on painting the house doubt they would accept $405k. That's one expensive paint job lol

 

Was referring to Tibor close. Been on the market for ten weeks? Cant be far off 450k then. Not sure why one would reject an offer at 450 including painting, all they had to do was lower the price 2-3k for painting and house would have sold. Wonder if agents talking crap?

 

Indian-born buyers dominate growth zone land sales - realestate.com.au

 

that is very true - where are the commies (from the economist theorist) lol

 

It's only about affordability and the desire (aka peer pressure) of a brand new home.

 

how much $ would be needed to spruce this place up you think? .. looks fairly run down,.

 

makes sense as many of these new migrants from India are first generation and do not have friends/family who live in the established suburbs. These growth areas are good value to live in with 4 BR home and land packages that are cheaper then some 2 bedroom inner city apartments. I find the article title a bit misleading as I took it as if they were buying Development blocks to develop apartments etc. in prime areas

 

I would have considered that exxy 10 weeks ago. It's possible the market is catching up to vendor expectations though... Personally for that money I'd still be trying for something with more Dev potential. IIRC there wasn't much of a back yard even if the side driveway was quite wide???

 

Backyard was decent but would be tight trying to fit something onto the back. There are also fairly large trees along the back fence which are taking up a few meters.
That's a good point, not sure if they were quoting that price for the whole 10 weeks but it would have considered expensive then, but seems aligned with the market now.
What/where would you be looking for a $450k price range that has dev potential?

 

From what I've observed, the blocks in the vicinity of/on Market Rd seem to offer the most potential? (given the lower price point compared to the south of Synnot area and areas near the shopping center).

 

For example
58 Songlark Crescent, Werribee, Vic 3030 - Property Details
3 Argyle Crescent, Werribee, Vic 3030 - Property Details