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Just an update. Bought the block for 380k a year ago. Neighbour now has same size block on the market for 650-700k. While this may be a bit optimistic I believe true value is 550-600k so still a gain of 170-220k in 12 months. The GFC was not all bad!.

I'm looking at a block at the moment to build my PPOR which is 5 houses up from the beach in Jindalee north of Perth. Price is 385k for an elevated level retained 669 square metre block. I estimate this price is down by at least 200k on what it would have been for sale for 12 months ago. Same...