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Not too many new ones on the market but late $400 I think, I am hoping for $5-510k in around a years time when complete.
I think your numbers are good, I am just being conservative.
I do like the area, Coogee Marina / Fremantle are really nice and Spearwood / Hami Hill are so close, cant go wrong in my opinion.
I still like Westminster but yes a lot of finished products will be coming on the market at the same time so see what happens, hopefully everyone will do well.
Perhaps they got finance before end values dropped?Yeah that is a concern, they need to be getting 500k a unit for it to be worthwhile, how did they get finance is the question.
Could be but I haven't watched it very closely regarding sales, did the area ever get 500k for a 3x2 in a triplex development ?
Could be but I haven't watched it very closely regarding sales, did the area ever get 500k for a 3x2 in a triplex development ?
Looks like $500k has been breached as this is Under Offer - though the offer might have been under $500
http://www.realestate.com.au/property-villa-wa-westminster-115781583
Definitely a few townhouses reached almost mid $550k
Don't know if this has been bought up before.. But isn't finance extremely hard to get for construction loans if you are not using a reputable builder?
Might not matter in your situation Marissa I'm just curious.
Cheers
I suspect the comment is more valid for commercial finance marisa. I know with my multis they did look into who the builders were so if you were the "builder" for your own project of say 6 villas it may work against you from that point of view
Yeah it was more in regards to the fact that if you do get your builders licence and are the ?registered? builder for your own project. Finance could be harder to get because you have no track record of successfully completed builds?
I?m aware that some lenders consider +4 Unit sights commercial lending?. Cheers