VIC Where is the Capital Growth right now in Melbourne?

Buying Urban Growth Zone Residential lands in the new upcoming Melbourne surburbs like Melton West, Beveridge, Sunbury etc looks to be still a viable investment.

Land prices have increased 2 to 3 folds for Non - PSP (Precinct Structure Plan) lands and 4 folds easily for lands that have PSP since 2014.

With current Non PSP lands selling at between $200k to $350k per acre (depending on location and terms of settlement), i think there is still room for growth. With Melbourne's population still increasing and land supply still unable to catch up with this growth, Land prices is poised to increase further, never mind the already high prices now. If a 400sqm land in Melton can cost $280,000 now, $300,000 per acre of urban growth land seems reasonable?

Biggest problem with this type of investment is you need deep pockets. A 10 acre land can easily cost $3m to buy now. Also there's a likelihood you will have little or no returns as there could be no dwelling on site. Plus, rates payable is high as council would rate it close to the value of the land. So this is not for the common investors.

 

Advanced algorithm's? ... sorry Jake but your stats are like reading yesterdays newspapers.

 

that is when it gets rezoned - similar to what mark Thompson did with his Armstrong creek stuff and other land holdings. Though it nothing eventuates would be a risk.

 

Even riskier when you have bikie 'mates' hanging around for a slice of that 7 million

 

Interesting info. Thanks for posting it. But I do not think units in Werribee, Hoppers and Wyndham Vale will outperform houses since the latter one is still quite affordable.

 

Can somewhat vouch for that program. We bought in Beaconsfield upper late 2015 at 500k and recently had it recently valued at over 920k (full renovation), apparently the area is hotter than it's ever been and isn't slowing down soon, hard to believe but when you see houses in Pakenham/Officer/Clyde at the prices they are I can see more room for growth.