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Yes, land is too expensive and returns just not there, unless the units really start to rise, just seems to be too much stock available at the lower entry level. Was watching the news the other day, apparently land in Perth is now more expensive than Syd, here is the link. Development sites...

Hi Dave If anyone was looking at the standard 3 units on 728 sqm which is the norm in Nollamara, those villas need to be selling for around $500K+ to make it work and you would need to be building something like this http://www.realestate.com.au/property-villa-wa-nollamara-115086579

Dave Prices of blocks similar to your purchase are now selling close to $600,000:), have you noticed any upward trend with regards to units/villas, I would hope so?? Cheers MTR