Lara or there abouts


Just wondering anyones thought on Lara Vic. Looking at developing a small block of one story townhouses to sell off.

Seems there is a bit of development in the area.

Does it pay to look at developing the older area with splitting off a block to develop into three townhouses?

Any thoughts are most welcomed.

Thanks in advance.
New Coles and Maccas going in (if they're not already finished) suggests those 2 big guys think there's plenty happening. My concern is there is no lack of supply of land. The You Yangs, train line and freeway are so far from the town that they don't inhibit the spread. IMO, people who move there are generally wanting a bit of space, so chopping it up smaller may not be what the market's looking for.
That is also my concern. Supply/demand ratio not making it a viable proposition. Its out in the middle of nowhere.

Hey Rick,
Given you're also a local do you "like" Lara as a place to live? For some reason, I always picture it as a dry, wind-swept, barren place. Maybe because I most often see that small area beside the freeway (near the nursery) where there are a lot of gums, which suck so much moisture from the ground. Just my personal opinion.
Hi both guys above mention some goods points.

Lara has so much land available and allot of new estates being built.

I would stay away from Lara at the moment.

When you go for a drive before you hit the lara exit have a look at how much land there is!!
Thanks for the advice.

I thought that might be the case as there has been a few sub divisions approved. They also seem to go quick.

Keeping my eye on a house that was split, front house reno and kept, new townhouse on back for sale. Not much movement on it. Realestate said that it is just priced too high and owners won't listen.

Having a bit of fun trying to find a easy profitable spliter.

Trying to keep an eye on supermarket building approvals for any hints.

Much appreciate the advice.