Landbanking a development site

I've been fortunate enough to have one of my Western Sydney houses I bought in 2009 rezoned for 6 storey high rise. I'm interested to see if anyone has examples of high rise zoned sites that they've held for a few years after the change in zoning. Has it outperformed regular low density houses?

The reason I ask is I'm considering selling as I may be able to get 2-3 neighbouring properties involved in selling and therefore achieve a premium price. If I sold, I'm considering these options:

- buy 2-3 in a market that has more steam left than Sydney
- put granny flats on my two Logan properties when they are allowed
- look for future rezoning opportunities

I have investigated the revaluation option and the valuation came in around $200-250k below what I may be able to get by selling. I'd be up for about $120k in CGT if I sold.
 
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