First time poster, long time reader. So sorry if this has been covered elsewhere, but I couldn't find anything.
What do you guys think of the effect of developments in normal suburbs which are mainly owner occupied areas with free standing homes. Some of these area's are beginning to see unit/townhouse developments coming up 30km away from the Melbourne CBD, at prices that really aren't that cheap either.
I'm surprised that people are willing to live in such small places at relatively high prices, in area's which strike me as nothing special.
Do you think this has the effect of raising house prices in those areas due to a higher density of people living there or reducing prices due to a lower average/median price from the developments? Or anything else that I haven't thought of.
What do you guys think of the effect of developments in normal suburbs which are mainly owner occupied areas with free standing homes. Some of these area's are beginning to see unit/townhouse developments coming up 30km away from the Melbourne CBD, at prices that really aren't that cheap either.
I'm surprised that people are willing to live in such small places at relatively high prices, in area's which strike me as nothing special.
Do you think this has the effect of raising house prices in those areas due to a higher density of people living there or reducing prices due to a lower average/median price from the developments? Or anything else that I haven't thought of.
