Hi All,
We have been looking at purchasing a block in Dromana and subdividing into 3townhouses. Not sure whether the objective will be to sell or rent the townhouses yet as it depends on what the market is doing when the development is completed.
Growth for Dromana has been excellent over the past year but am worried we will be buying at the peak of the cycle (at about 200K per block).
I know the Peninsula link will be completed by 2013 so am hoping that this will result in further capital growth and is my main reason for purchasing now.
What does everyone else think?
We have been looking at purchasing a block in Dromana and subdividing into 3townhouses. Not sure whether the objective will be to sell or rent the townhouses yet as it depends on what the market is doing when the development is completed.
Growth for Dromana has been excellent over the past year but am worried we will be buying at the peak of the cycle (at about 200K per block).
I know the Peninsula link will be completed by 2013 so am hoping that this will result in further capital growth and is my main reason for purchasing now.
What does everyone else think?