Googong, NSW
- Thread starter Jamie M
- Start date
I was booked in, but had to cancel due to other things happening.
It will have been taped, and be up on the Googong website later this week.
I like the prices on offer, but have a few concerns.
It will have been taped, and be up on the Googong website later this week.
I like the prices on offer, but have a few concerns.
I must admit, I didn't really have a good grasp on what constituted a good price for land before going in and thought that the prices seemed quite reasonable.
But having a look at other new estates in Canberra - it looks like you can pick up comparable blocks for comparable prices. I haven't looked into it too much but there's a 788m2 block in Casey for $299k right now - which would seem to be on par with the larger blocks/prices in Googong.
The upside to Googong is the stamp duty concession and depending on which way the market heads within the next 12 - 18 months, there might be some growth between exchange and settlement.
What are your concerns?
Cheers
Jamie
But having a look at other new estates in Canberra - it looks like you can pick up comparable blocks for comparable prices. I haven't looked into it too much but there's a 788m2 block in Casey for $299k right now - which would seem to be on par with the larger blocks/prices in Googong.
The upside to Googong is the stamp duty concession and depending on which way the market heads within the next 12 - 18 months, there might be some growth between exchange and settlement.
What are your concerns?
Cheers
Jamie
I'd never heard of it until I read this post....... so I may be completely off track. But it sounds like the Springfield Lakes and Forest Lakes developments in QLD.
I think they are nice places to live, generally, with lots of parkland and planned community facilities.
But not as good for investment properties, because of the number of houses being released on a fairly constant basis over a long period of time. Supply outstrips demand so the capital growth is not that strong, at least until the new releases stop.
I think they are nice places to live, generally, with lots of parkland and planned community facilities.
But not as good for investment properties, because of the number of houses being released on a fairly constant basis over a long period of time. Supply outstrips demand so the capital growth is not that strong, at least until the new releases stop.
You're right. There's going to be 5 suburbs released in stages over a long period of time. There doesn't seem to be any shortage of supply - and it will be interesting to see what the uptake on the sales is like for this first release given the current market.
I was scoping it out more from a new PPOR point of view but it still seems a bit too out of the way.
This is their website -http://googong.net/
Cheers
Jamie
I was scoping it out more from a new PPOR point of view but it still seems a bit too out of the way.
This is their website -http://googong.net/
Cheers
Jamie
I missed you there Jamie! Saw a few other peeps I knew though.
Well, my take on it is that is going to be great for Queanbeyan, making it more central, more jobs and infrastructure.
I like the plan, and was thinking of buying a block to flip, but it looks as though they have made it hard for speculators by imposing a 24 month building envelope.
You have to put a I think $5000? bond down and if you don't finish within the limit you lose it.
So if you bought a block and then waited 12 months to get a discount on CGT, then the next person would have less than 12 months to get plans approved and be built.
That is the other thing, I can see them being really strick with the building guidelines. You have to have the house approved through CIC and then they are sent to council for their approval.
Well, my take on it is that is going to be great for Queanbeyan, making it more central, more jobs and infrastructure.
I like the plan, and was thinking of buying a block to flip, but it looks as though they have made it hard for speculators by imposing a 24 month building envelope.
You have to put a I think $5000? bond down and if you don't finish within the limit you lose it.
So if you bought a block and then waited 12 months to get a discount on CGT, then the next person would have less than 12 months to get plans approved and be built.
That is the other thing, I can see them being really strick with the building guidelines. You have to have the house approved through CIC and then they are sent to council for their approval.
