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Persoanlly wouldnt buy in either of those areas. $400k for Andrews Farm is way over the top. My brother paid similar for a close to new property in Burton. The value isn't there when you can get established properties for $100k less. Give it 5-10years time when the area fills up and land is...

Wonder how many if these were brand new properties that people overpaid in the first place. I don't look at medians too much, they don't tell a true story.

5 @ 8 x 30 lots. Put some nice little 3bed1baths on them down the track.

I missed out on my neighbour selling, didn't even know it was for sale. I would of definitely have been interested. Would of given me approx 1600sqm. Also gives you the power of who is your tenants neighbour. I think it's definitely worth looking at. Think back to why you purchased the 1st...

Based on $235-245k now is not the time, not near enough fat. My Elizabeth property is going to sit there and do nothing for next 3-5 years. Need end value of a 140sqm 3x1 on 300sqm land to be around $220-240k before I would even consider. I'll just sit back and collect rent (with...

What about the valuation, do you need that to stack up to be able to borrow the funds? What's the value of the new property going to be? And the old once block is split? $170k turn key for a 4x2 - how many sqm we talking here?

Corner block, have you looked to see where the sewer runs? My SA Water bill is $25k eat's into the fat for me, but could be a deal killer for you. What's your end result from this? Are you going to be selling? If keeping what will they rent for? What are all the costs? Does the $200k get you...

Haven't ever had a client or know of anyone who has purchased established. All clients/friends/whatever I know have only built their own property. Unless you're selling at a good discount below cost of construction don't expect to get similar price. I believe those who're looking for established...

I purchased Elizabeth East in 2012. When I can sell for $230k each I'm at a level comfortable to develop. It's coming up faster then I thought it would. New houses selling in Elizabeth Park for $220k. 5 years same as the last 3 will be well and truly ready to develop IMO

Why buy @ 80% perfect example where you think you're being less risky by going 80% and not paying LMI, whereas 90% paying LMI gives you reserve funds IMO less risk on you more on the bank :)

Not doubting that there are heaps out there. As shown by the data was an approx 50/50 split. Which means there are just as many people who are paying >$200k I wouldn't be looking to pay $200k either, but happy for others to pay that. Helps for the bank val.

http://somersoft.com/forums/showpost.php?p=1199345&postcount=1114

Not many, pretty much 0. These were all >600sqm not many people build brand new on >600sqm in this area.

You're welcome. Not going to lie did surpise me a little but, but it's definitely true that alot of properties are coming onto the market trying to achieve the $200k. I know from my own saved searches in RE.com for the Elizabeth areas I don't have as many properties coming through (because of...

Elizabeth House Sales Last 12 months $100,000 - $200,000 >600sqm Elizabeth Vale 9 (3 of these are $195-200k) Elizabeth Park 36 (6 of these are $195-200k) Elizabeth East 25 (5 of these are $195-200k) Elizabeth Downs 50 (10 of these are $195-200k) Elizabeth Grove...

Would likely include a reasonable amount of >900 It's interesting that there have been that many >$200k

Elizabeth House Sales Last 12 months >$200,000 >600sqm Elizabeth Vale 31 Elizabeth Park 27 Elizabeth East 25 Elizabeth Downs 24 Elizabeth Grove 11 Elizabeth South 9 Elizabeth 8 Elizabeth North 5 Total 140

Happy for people to keep paying these prices. Noticed recently a lot more being advertised at >$200k but haven't followed them up to see what they sold for...

No development going on at the Elizabeth property, it was something that I thought would be possible in further years. Didn't even think it would be something that would happen within 5 years of buying. But now due to CG it looks like it could be possible at lot sooner. If the end value gets to...

Issue it you're looking 2007 til now, you would find that there was a growth and a pull back in that time. With a bit of demand lost with FHB etc buying brand new places in the developments in close by areas when you could get huge FHOG. Purchased April 2012 $175k my OEV was accepted by bank...