Where Is The Cheapest Land In Sydney?

Discussion in 'Where to Buy' started by Piston_Broke, 9th Sep, 2020.

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  1. Piston_Broke

    Piston_Broke Well-Known Member

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    Out of curiosity I started looking for the cheapest land in Sydney to get an idea of where prices start.
    I'll try update this post as i go.


    Macarthur heights start at 375m2 for $370k and they a few at $385k.

    Heritage Heights, St Helens Park 478m2 $389k

    Lot 2028, Menangle Rd, Menangle Park, NSW 2563 420m2 $395k
     
    Last edited: 9th Sep, 2020
  2. gach2

    gach2 Well-Known Member

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    When it comes up 2770 could be had for high 2s, low 3s
    Would also be 500m2+ so could technically build a duplex?

    Campbelltown satellite suburbs ( I believe airds) also have houses from 400k so if any land comes up im sure it'll be quiet cheap

    Or are you only talking about new release?
     
  3. Lacrim

    Lacrim Well-Known Member

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  4. Aamir

    Aamir New Member

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    Paid $320k for a 450sqm block in Newbrook, it’s 6mins drive to Campbelltown Train station. The current valuation for the block is $365k.

    The plan is to put a 4bedder on it using a project builder costing around 260-280k depending on the builder we choose, so far NewLivingHomes appear to be the most competitive.

    All up costing $600k for a 4 bedroom on 450sqms, similar rentals are around $500-520 per week in the area. Seems like a decent investment, we’ve never done this before so appreciate any feedback / comments. Thanks
     
  5. Piston_Broke

    Piston_Broke Well-Known Member

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    500m2 you can build a granny flat, but not a duplex. I don't know where you could.

    Yep, cheapest so far is Airds (Newbrook) as Lacrim posted.
    300 m² $325,000

    These are former housing commission properties that were knocked down and sold as vacant land.
    There were a few sold in Rosemeadow as well, I can't see any on the market atm.


     
  6. gach2

    gach2 Well-Known Member

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    Blacktown council is 500m2 on r2 land - not sub dividable but if you had land with frontage could be a good for yield
     
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  7. Piston_Broke

    Piston_Broke Well-Known Member

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    Thanks for that Gach2. Seen it before but forgot.
    Also a quick scan and that's probably why prices are high for old houses and land listings are just about inexistent.


    So here is the list so far:

    $325k 300m2 Airds
    $375k 256n2 Marsed Park
    $380k 500m2 Bidwill
    $385K 375m2 Macarthur heights
    $389K 478m2 Heritage Heights, St Helens Park
    $395K 420m2 Menangle Park
     
  8. Lacrim

    Lacrim Well-Known Member

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    The SW is underrated IMHO but Campbelltown needs to move in the same direction as Parra. There seem to be more growth and transport drivers in Western Syd compared to the SW.
     
  9. Piston_Broke

    Piston_Broke Well-Known Member

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    2560 has always been underrated and always been a source of great wealth for many.
    It's been my playground for 30yrs. Even the last 5 years have been good for the locals.
    2565 and 2567 have also been boom towns.
     
  10. Lacrim

    Lacrim Well-Known Member

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    Yeah bought a house in Minto...in hindsight shoud've rolled the dice in Macq Fields (the pocket closer to the station that is).
     
  11. SteffS

    SteffS Well-Known Member

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    I wonder if you can even do it in 260-280k range but even if you can it willl be very very basic and low grade. I think your range is not realistic.
     
  12. Aamir

    Aamir New Member

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    I was actually surprised myself when we received the building quotes, we have 3 quotes all within the 260-280k range, all including except landscaping. And to my surprise the price includes some decent average quality, in particular NewLivingHomes by Masterton providing the best deal out of the 3 we approached. It’s an investment so there’s no emotion attached to this build.

    Current rental for similar properties is around the $500 pw mark. Looks like a decent investment to our newbie investment mindset so appreciate feedback and comments as we’ve surely missed a thing or two. Building tender is all finalised and awaiting our seal.
     
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  13. Bwinny

    Bwinny Well-Known Member

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    Does this include site costs or an allowance considering you don't have the land as yet?? I'm not saying this is the case with your example but, a lot of the project builders have lower prices advertised to get people in the door and then in reality additional fees get added the more invested you are in the process and deposits etc.
     
  14. Aamir

    Aamir New Member

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    Thanks Bwinny.

    We’ve already settled on the land. We paid $320k two years ago and current valuation came in at $365k. And for the building cost quoted above it does include site costs as well. We’ve never built before and some friends have had bad experience so checking and rechecking before we sign the build agreement. So far it’s all positive and the builder we are thinking to go ahead with seems reasonable and feedback is good too. ( builder is NewLivingHomes... )

    The only thing bothering us is the ongoing dooms day calls for the property market as a result of the upcoming removal of COVID related mortgage payment relief initiatives by banks.

    Stats once again:

    1.Land cost - $320k , 450sqms

    2.Build - $280k , 215sqms covered area turn key, fixed cost with 6months completion date. Post 6months $500 a week rent triggers if build not complete - all included in contract.

    3.Expected rental - $500

    4.Current valuation of similar size and quality - $650-680k

    Plan post build - Rental for 3 years then sell.

    Comments and feedback appreciated. Thanks
     
  15. Bwinny

    Bwinny Well-Known Member

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    Cool Aamir,

    If that's the case why wouldn't you build ASAP to be able to provide a rental return versus nothing on the land currently (plus tax deductions, depreciation etc??) You might also be able to take advantage of current building incentives etc. too?
     
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