I've recently had the fortune of going through this myself. B4 zoned land (confirmed) in Outer Western Sydney. I would think it might be in your best interest to hold out until the B4 zoning is fully approved by council. I found there to be a $200k+ difference in price when this happened...
The biggest short term gains I see tend to be from rezoning. The property that hasn't had the rezoning could be argued as having the better chance of future rezoning between the two and possibly more likely to outperform the other in the short to medium term. I'm assuming same suburb, same...
Sorry, I didn't phrase that clearly. I mean more like buying a house that is on land that is already zoned for medium/high density. You're not going to get that huge jump in value when it goes from low to medium/high.
If you don't intend on developing, what's the value in buying a development site? Would it make more sense to buy a standard residential zoned site and get better yields?
Just sold my house in Kingswood so know the area well. Pretty much everything north of Hargrave St up to GWH is now zoned B4 for 6 storey mixed use commercial / residential. Similar story with R4 zoning on the Penrith side of the hospital and a big chunk north of Lethbridge St. Lots of potential...
I've been fortunate enough to have one of my Western Sydney houses I bought in 2009 rezoned for 6 storey high rise. I'm interested to see if anyone has examples of high rise zoned sites that they've held for a few years after the change in zoning. Has it outperformed regular low density...
Thanks for that info! So would the flood searches at the site below be the council's view of flooding or the state government's? Does that take into account the increase in sea levels over 100 years?
https://www.moretonbay.qld.gov.au/floodsearch.aspx?id=114471
Looks like the draft plan is no longer available. Did anyone happen to save a copy before they pulled it and wouldn't mind emailing it to me? Pretty please? :D