Just noticed I've been here for 10 years as of last month!
Thanks to Ian Jan and Sim for a great forum plus all contributors. Has always been the best property forum going around.
I would be aiming at building the same quality as townhouses in Rosanna. North of $1600 per square metre minimum , plus site costs, contributions etc etc.
A little further west is better, towards Waiora. Pretty green and well kept, close to Rosanna shopping strip. This is a bit too far from the train station. I prefer to be no more than 1km away.
More crazy prices today. Place I bought 12 months ago would be worth 60% more now based on a comparable sale at auction today. :eek:
Definitely not the place for a plain buy-n-hold at this stage of the cycle.
This is why developers must work out figures post tax ie after gst and income/company tax.
The other point is you can only make the best decision at the time. Easy to say I could have made more/about the same if I didn't develop. But what if the market DIDNT rise?