Mason Green - Piara Waters

[SaberX]

Hi guys,

New, first time (no property owned).

I'll be honest, I'm making a snap decision here and I know wiith any investment things take time, so I'll ask you to not judge on that forefront (I get it - I'd slap someone taking a similar plunge into shares). But really, I saw the realse for a new estate in Piara Waters - Mason Green by Qube.

It's bordering mason road, wright road, armadale road (doesn't quite stretch to armadale). I am wondering firstly as a new investor, as a basic principle should one look at getting a smaller/average sized lot as a more affordable pricing point from a capital pov relative to rental, than blowing yourself out by getting a large sqm block (say 400+) that may be cheaper on a sqm basis? Would you get more back in terms of postive gearing or positive cash flow by starting smaller and building? Or does one run into problems trying to rent to aspiring families when going to small?

Secondly , what sq/m a lot pricing would one go for? What is reasonable? I did some calcs and many of the 300 to 400 something sqm blocks 680-760 $ /sqm.... not sure what the average is these days.

And lastly for the unitiated who have to make a decision in a few days, what would one look out for in a contract, or in terms of ensuring the land has no hidden nasties? I know, I know this is terribly unprepared... shares are my forte. Just looking for what advice one can give for someone with not much time to make a decision!

I'm only rushing as it's the first stage release... didn't want to potentially miss out in registering my preferences.. Thanks!
Any further links or books that I can quickly scoff down to get the basics into my head for investing/research and purchasing considerations would be much appreciated!!

APologies again for my tardiness... I am well aware! Thanks!

P.S. am I wrong to go by the guide of 1% rental income per week on the house price? So if i go for a $285,000 for around 375 sqm give or take, can I get a 3 or 4 bedroom house up and running on under 200k? To bring a total house and land of under 485,000? Assuming then unfurnished it could rent out at 1% roughly, say $450 (discounting slightly). Would this be an accurate representation when looking to invest?

And would 10m frontage be adequate for a modern 2 car garage out front these days?? Or does 10 m frontages really push design problems/costs up?

 

[Aaron Sice]

I'm favourable to Piara Waters myself. Once complete it will be a great suburb. 4x2 house prices, complete on over 500sqm - still getting over $550k.

a 4x2 turn key for $200k is very possible.

a 10m frontage is fine for a double garage - the dwelling just has to be forward of the garage as per attached.

make sure you have as much included as possible - and there are no time limits / out clauses for the land seller and their associated trades.

try and get a 400+sqm lot - 450sqm would be better for a straight forward dual occ possibility later down the track - the demographics of Piara Waters has A LOT of singles and couples living in the area - but 450sqm lots are getting hard to find.

 

[Ausprop]

could be good timing, get it put together and catch the wave of growth that will spill from the syd/mel boom. take a few good years out of it and flog it before it gets too old and tired

 

[MTR]

Piara Waters, seems there is lots of land and house packages for sale.

have you checked end values with what you want to do,??

Look at build times and interest payable during this period.

Don't know much about the area.

 

[SaberX]

Hi Aaron,

Being new to property completely, what would you advise I look out for? There is a contract with the local development plan, zoning etc, but I'm completely lost where to start. If you have some links or guides on just understanding and knowing what questions to ask in terms of restrictive covenants, about easements (what they are, what to look for, avoid etc), about the land, soil, incline and anything else a land purchaser should look for that would be great.

I've tried googling but get dribs and drabs. I work regional so I can't pop into a bookstore (recommendations? ) for reading up on land. I think appointments would be this weekend - not sure If i"ll get anything as I indicated I had no pre approval and subject to finance. I have no issues getting this I reckon, but given this was a left field email sent out yesterday, I haven't had pre approval done (heard it hit my credit file so didn't bother - but previously been informally rated as being able to borrow at least 450k - my pay has since gone up).

My lot preferences i put in for were 375 sqm (around 285k) and 398 sqm came in at 295k. These lots appear to fall under R25 zoning. Again not sure what is preferential as some lots are R30 (rare) and R40 are mainly those near the public open space areas.

Is there a minimum sqm guide to building a 4x2? Can I get away with it on a 375sqm-398sqm block? I assume a 4x2 vs a 3x 2 on the same size block will cost more given the extra walls?

What sort of reasale value do you see in that Piara Waters on the indicated size block I mentioned? i assume you can pick up a 3 x 2 even for 180k, plus 285,000 for the land brings it at about $465k. Seems alot more expensive to what the 500-650 sqm blocks were selling for a while back in piara waters when first new, so do you think I would be under water after relevant fees?

The alternative I was recommended was land and house packages but I assume you pay more for this privilege, and it's cheaper (albeit more time) to build your own house? Correct me if I'm wrong please.


By time limits /out clauses what do you mean? There appears to be a clause of not being able to sell until they finish selling the last lot in the estate. Is this common? I can't find it in the sales contract but by sms the agent said build time was within 18 months of settlement - something to do with the landscaping bonus too? Would it help if I attached the generic stage 1 sales contract?

Given demographics - would a smaller sub 400 sqm lot serve as a better rental return and capital growth? Or woudl you stil insist that paying that bit extra for a 400-450 sqm block will get you better rent and capital gains return over the next 5-10 years?

Just abit worried with WA"s economy and interest rates low that pressure on rents will be downwards, and Piara waters would have many singles and new couples who would rather buy in a cheaper area than rent? Rentals I assume woudl goto inner established suburbs with better infrastructure?

So far I haven't heard much about future infrastructure around Piara waters bar a high school in Harrisdale next door. No idea of any future shopping centre, railway lines, or other amenities... abit worried therefore that nearest distance is cockburn central via armadale road... having lived in Willetton most my life the suburb seems alot further out - but those already living on the fringes may have a different perspective and therefore more positive view on investing?

 

[SaberX]

Piara Waters, seems there is lots of land and house packages for sale.

have you checked end values with what you want to do,??

Look at build times and interest payable during this period.

Don't know much about the area.

Sort of... my next question being new to property is I really wanted to get some good resources and insider knowledge as to 1) Best place to research for statistics, pricing, current rental prices 2) I'm not familiar with property and therefore basics such as whether a land and house package is better bang for buck than buying and building your own?

The only thing I've been told is a house and land is more jacked up in price? But conversely before this conversation i figured they might be cheaper as a builder is locking you in with them versus another builder. Then again - why do developers sell to these builders (are they sold at a premium to them?)

I've attached stage 1's contract... could someone more familiar have a look and give me some good advice as I really don't know what I'm looking for. Summing it up restrictive covenants, easements? Anything else that are on any land buying/investors checklist??

There seemed to be a few picky clauses on the roofing, fencing etc but having not dealt with land and contracts before I'm not sure if this is the norm, or will land me with several headaches once I get to building stage? Comments would be very much appreciated.

 

[MTR]

Saber
Its doing your homework.
Start off with what is selling in the area, as I said there seems to be lots of land and house packages, call me weird but that kind off turns me right off, oversupply can be a scary thing, because it generally means prices don't rise.

I am not saying there is an oversupply but you need to find out. Make lots and lots of phone calls to various agents. Look at all surrounding areas, all the stages, time frame.

Most important is end values, what are they selling for today/now.
No point building if there is no money in it and its cheaper to buy established.

We have already had growth in Perth, this happened over the last 2 years, property works in cycles, in other words there is more stock on the market than there was this time last year, comes back to supply vs demand, when there is not enough stock this is when the markets start to rise.

MTR

 

[MTR]

Sort of... my next question being new to property is I really wanted to get some good resources and insider knowledge as to 1) Best place to research for statistics, pricing, current rental prices 2) I'm not familiar with property and therefore basics such as whether a land and house package is better bang for buck than buying and building your own?

The only thing I've been told is a house and land is more jacked up in price? But conversely before this conversation i figured they might be cheaper as a builder is locking you in with them versus another builder. Then again - why do developers sell to these builders (are they sold at a premium to them?)

I've attached stage 1's contract... could someone more familiar have a look and give me some good advice as I really don't know what I'm looking for. Summing it up restrictive covenants, easements? Anything else that are on any land buying/investors checklist??

There seemed to be a few picky clauses on the roofing, fencing etc but having not dealt with land and contracts before I'm not sure if this is the norm, or will land me with several headaches once I get to building stage? Comments would be very much appreciated.

You are putting the horse before the cart, forget caveats, contracts etc. this is only complicated things. Its not boom times, take your time and research and consider the information before you proceed, otherwise you will make costly mistakes.
Find out what is happening in this area. Its easy you don't need fancy packages to do this, just start making enquiries, agents, listings on the market, how long its taking to sell.

Phone many many agents. Look at sub-divisions and how much land is for sale its information that is available on the net.

Land and house packages are for sale in this area as well, easy, just add holding costs for 12 months and perhaps $30K for furnishings.

I like land and house packages in a rising market, but is it a rising market?? if not, then you are dependent on buying a bargain block and building at bargain prices to achieve equity.

MTR

 

[Aaron Sice]

REIWA property / suburb stats, with SQM stuff too, are a great place to start.

 

[DexV2]

May be good to also look out for the zoning of the area. My dad bought 3 adjoining lots with a great frontage and access into the Riva area and so happened to be R40! He didn't know about it but if he did he would have bought the whole block of 5 lots. Oh well... 3 lots is still sufficient to build consulting rooms and such.

 

[SaberX]

@MTR:

I understand the homework part. Nothing comes free/easy. I guess it's just needing to be pointed in the right direction. Somehow the first step is always really daunting.... I feel the same way when people are asking about shares and until I bring myself back down to earth to see things from their POV.

So you're saying the abundance of house and lack packages indicates a lack of buyers, and that popular estates would have sold out of them? Is there any reason why people would not take land and house packages - i.e. becuase they're more expensive than DIY, have weird shapes or designs,restrictions or underlying nasties, or is it just merely a preference by most to have asay in what you build?

Again, could you elaborate on calling various agents? Obviously I need to find out rental information, demand, selling prices, but most I thought would not entertain someone just after information. DO you try and word it from a buyers pov (when enquiring about potential sell side) and vice versa? Questions such as how long it takes to rent out?

The problem with looking at surrounding areas/developments - some stages s I did get price lists for when attached to say email. Otherwise developers like stockland refused to supply me the old, original price lists for the various stages of new haven etc (said they don't keep it available - i doubt they wouldn't!!). So basically unless you saved a copy, or have it in your email, any old price url links are void, and it makes it hard to go back and analyse/compare prior sales i feel? Obviously now I save all price lists and stage info. But have not much to compare in the area.

By researching end values are you just browsing what's for sale on real estate listings? The issue is - I would place more importance on knowing sale prices of things alreadys sold (or rented) as opposed to what is listed and obviously not selling/renting. It's hard to know when these go off the market without bookmarking every single property I'd imagine. Or is this what most investors do to keep an eye on an area and values? The issue is if assessing the whole of Perth - you wouldn't have enough time to do this unless specifically eying a suburb (rather than just finding the best place for investing your money in terms of end value potential)..

I agree - the macroeconomic cycle I believe allows room for plateuing if not a receding house prices... my urgency was more of availability of land - as stages sell obviously one cannot buy again until new land further out becomes available. Existing homes won't go anywhere so of course there is room to ride out the cycle down and get a better price on these. Another argument by a friend who is up to her second property is a focus on more expensive (being inner/established) but more better serviced suburbs - older, tried and tested areas. E.g. your Leemin, ROssmoyne relative to PIara Waters and Southern River. Ofc you run smaller rental yields and growth it seems than new estates?

I was curious therefore how the price of this land also stacked up historically as it still seemed quite high, and unlike apartments didn't seem to have reacted to macroeconomic conditions and lowered in value? $/sqm was coming in mid 700s and seem to keep going up, but historically was much lower.

Again you mentioned doing market research re: happenings in the area. But where do I find out planned infrastructure? Many developers when I ask about this are vague if not elusive. They may say they 'heard' about a school in Harrisdale potentially, or when Piara waters was being sold by Stockland the mooted shopping centre around the area was thrown about. Otherwise you hear no concrete confirmation or plans. Nor nothing from new developers such as Mason Green about these past assertions.

I was told there is an authority where lodged infrastructure plans or potential are made - am I correct? Or are these all privvy - my friends believe there's no way of finding this out bar a phone call to the local council to get a 'feel' for future infrastructure plans. I wanted something more concrete: schools, potential shopping centres, transport links etc due to obviously their affect on property prices.

Again - how does one word it through to get no. of listings and time on market out of agents without them catching on? I am confused why I would look at sub divisions though, as the current $285,000-310,000 land prices stretch around 375-450 sqm in Mason Green, let alone I cannot afford a 600-800 sqm block that would have sub division potential anyhow?

Re: land and house packages again - you mentioned 12 months holding costs, but I thought settlement was payable on completion of the designed house? As for furnishings is 30k a reasonable estimate for necessities - air cond, what else? As for rental I would assume one would leave it completely unfurnished, and that stone benchtops and other kitchen and fixtures/furnishings would be part of the building cost otherwise?

The toughest part I find is unlike shares, the price of property is so high it seems hard to just buy and see what works well and adjust your strategy. Like you have the experience that shows you like house and land packages in a rising market, whereas it is hard for me to find that out the hard way etc. You don't get the luxury to try and fail much relative to parcels of shares.

Unless knowledge is shared with me I don't know why it's better to buy and build on land vs turn key packages, or when in the cycle diferent ideas work best. And hence why I am turning here to sort of get a prod in the right direction on where I can obtain and do all this research e.g. some good, thorough websites or resources, or links of organisations that provide the info i need for above said market research? e.g. thanks for the Reiwa recommendation Aaron Slice.

DexV2 you can see the zoning in the LDP of the contract i attached a few posts up... don't think I could afford 2 or 3 blocks anyway, and a 400-450 sqm wouldn't be able to rezone in to two properties i assume (given how small it is already)? Not to mention the 10 year restriction on changing/building structures on the estate without going through their committee approval proccess! Most also appear to be overlooking the big park and open spaces - not sure if most renters and future selling value would favour a street away (close to access these spaces but not directly overlooking).

MTR

 

[thatbum]

By researching end values are you just browsing what's for sale on real estate listings? The issue is - I would place more importance on knowing sale prices of things alreadys sold (or rented) as opposed to what is listed and obviously not selling/renting. It's hard to know when these go off the market without bookmarking every single property I'd imagine. Or is this what most investors do to keep an eye on an area and values? The issue is if assessing the whole of Perth - you wouldn't have enough time to do this unless specifically eying a suburb (rather than just finding the best place for investing your money in terms of end value potential)..

This is what I do. I slowly worked my way through learning more and more suburbs and now I look at every single online listing in WA daily.

It takes me 15 minutes a day.

 

[Aaron Sice]

House and land package - you settle on the land and fund the construction yourself.

 

[Ausprop]

note also that in new areas, initial resales can be high then trend down as more stock comes on and competition grows, particularly in hot markets where every second house is a spec home owned by an eastern stateser. you will need a dose of gut instinct regardless of how much research you do

 

[MTR]

Saber

The easiest way to make money with property is buy when there is more demand than supply, if you follow this rule you really cant go too wrong.

Make your re agents your friends, I use 3-5 or whatever because this helps me get to the nitty gritty, and work out fact from fiction. Obvious questions, what are 4x2 selling for? size? what do people want in the area? demand etc etc.

Some subscribe to various research packages that provide sales evidence, I don't do this, but I am sure it would be very useful. One day I will

Ignore the noise in your head, to make it easy, the first thing to do as I mentioned previously is to establish whether you can make money in this area with the numbers today. If it does not stack up then move on. If it stacks up then you start to dig deeper and if you see what you like then perhaps its a goer.

I had a quick look on realestate.com and did not like what I saw, but perhaps I am wrong, sales prices under $500K and the huge amount of land and house packages.

Example figures only -

build costs $250K land 250K = $500,000
holding costs must be included because you are paying interest during the build.

Is there better value in Coobellup for example?? which will be rezoned shortly?? An area I would look at, cost similar as your land and house but can build more on the land once zoning comes in. Once again its a numbers game.

If you keep it simple with the basic numbers to start off with then it is much easier and less time consuming, as no point researching until you establish the basics

MTR

 

[Tano]

@MTR:
So you're saying the abundance of house and lack packages indicates a lack of buyers, and that popular estates would have sold out of them? Is there any reason why people would not take land and house packages - i.e. becuase they're more expensive than DIY, have weird shapes or designs,restrictions or underlying nasties, or is it just merely a preference by most to have asay in what you build?

House and Land packages have a premium (margin) built in so its cheaper (but not more convenient) to source your own land and builder. My wife was a RE agent with BGC and she instructed me not to buy the display homes from builders when they rent back to you for X months. The rent + more is factored into the sale price and you will loose bad.

Another example: She was selling H&L and promoting the wonderful ocean view. Unknown to her they usually release the first stage far from the coast in order to sell you those views. Now they are building large apartment blocks and more houses infront of those houses so now theres no view and reduced light. Once that is done then they plan on moving the development right near the water and those are the blocks you want but the estate will be established and you will pay a premium.

Re: land and house packages again - you mentioned 12 months holding costs, but I thought settlement was payable on completion of the designed house? As for furnishings is 30k a reasonable estimate for necessities - air cond, what else? As for rental I would assume one would leave it completely unfurnished, and that stone benchtops and other kitchen and fixtures/furnishings would be part of the building cost otherwise?

Balance payable on settlement but if you were renting then these could be part of the holding costs compared to buying established and moving in.

Prob 10-15k should be enough for A/C, security screens, alarm, sheds, dishwasher etc if not already covered in the contract (or more if landscaping is not included). All benches and fixtures are part of the building contract . Leave it unfurnished.

 

[Tano]

@MTR:
The problem with looking at surrounding areas/developments - some stages s I did get price lists for when attached to say email. Otherwise developers like stockland refused to supply me the old, original price lists for the various stages of new haven etc (said they don't keep it available - i doubt they wouldn't!!). So basically unless you saved a copy, or have it in your email, any old price url links are void, and it makes it hard to go back and analyse/compare prior sales i feel? Obviously now I save all price lists and stage info. But have not much to compare in the area.

The price of blocks are very cheap when the estate is first established to get buyers into the commuinity. As time goes on then the prices are increased to cater for the extra demand (less and less blocks are left) and to factor in the general price rise of land each year. Its a business and it wouldnt be good policy to release the old land prices since this creates a price anchor and it will be hard for buyers to pay more for basically the same thing. The same principle holds true for stocks, just because the price was X one year ago and is now Y does it make a good investment?


Maybe ask the Dept of Education about planned schools in the area.

Here are a few graphs for your amusement but totally useless for investing since its Aus Wide and you cant do anything about it.

 

[SaberX]

Hi guys... getting late...had to work overtime and call the real estate agent. Will reply the rest of your posts tomorrow.. but just wanted to say I got allocated a lot... at about 400 sqm. $295,000. I have until Sunday to decide.

MTR you mentioned 250,000 to build, but I thought a basic 4 x 2 to chuck on a 400 sqm block could be done for 200k, if not less? So I was budgeting that the 295,000 in land would , includnig 200k cost about 485k total all up...Includes free fencing , retaining walls are done by the developer, and free front landscaping (including reticulation).

If houses are going for around this price in the area of $500k I figured this may be worth something... if it doesn't make a huge profit immediately sure, but my idea was to get in while times are probably more oversupplied now, get it renting and close to neutral, and riding it out for a couple of years until all the piara waters land is dried up and all that is left is further south east towards seville grove, or to the west at Banjup. Being the stage 1 release I also figured buying now would likely result in abit of equity built up over later stage lots? Closer to Mason Road entrance too for quick access to wright road or wharton road.

What do you guys think? Some questions i asked and got were:

1) Green titled - a quick google search appears to state this is what I should want preferably

2)Flat lots themselves, although the overall lot may be on a slight incline, but again she mentioned that the developer does the retaining walls for the street slope down towards lots 107-113 (i've attached stage 1 release and sizes, and price list).

3) I asked about "soil" - don't know much about it apart from troubled soil means troubled building costs. She claims usual toxicity /council reports submitted for approval. Otherwise no specific expert - at least I didn't know what to quizz/probe for. She then mentioned something about a class footing, and being "sand" based... so i don't know if this means it extends to the ground and therefore drilling wouldn't bring up clay and other hard rocks that cause building prices to rocket?

4)Mentioned no BAL or noise covenants. I assume these again show in restrictive covenants of a contract, and are imposed by a counci? So if I cant see them then i'm fine(again I attached the contract in my earlier posts).

5) They did the hammond park subdivision : "Hammond rise" In july 2012, and "Brookley East" in brookley. Be keen to hear how these went and growth/return? I don't know much about Qube - any comments?

Still a few lots like 22,21,37,17 and 111 available - any thoughts?

Any other questions I should be probing or asking asap, as I need to give a final answer by sunday night?

 

[SaberX]

@ausprop - my feelings too. Saw 2 side by side houses for rent in piara waters....

wondering if this will flush out though... Interest rates are also on the trend down, not a great look for the economy (i take the counter cyclical view while investors are cheering at low rates). I can probably string together an 80k deposit though. I'm hoping I can get to avoid LMI... which would take a big cost out of the loan.

If i can borrow just under 400k for a 485k package (295k for the land, < 200k to build a 4 x 2? Is it possible to build on this budget - get basic required furnishings in and rent it out unfurnished, without going too el cheapo that nobody likes the look of or quality when it comes to rental/resale?) then perhaps I can weather off and pay this back down to below 350k before rates start to rise.. leaving a decently small mortage. Rent it out for a yr or two then live in it if required (if I end up getting married).

THe other issue: Does anyone know with the government first home savers accounts - does release of funds or notification require you to do so upon signing when you put your deposit down? Or from settlement date(Circa October 2015). Rules changes means from 1 July 2015 the FHSA become normal cash accounts. Basically means I can draw the cash out and chuck it on the investment property without it being my main residence.

Ausprop - also figured I should take a drive down to PIara waters and just get out of the car and see if I can acost and talk to any locals about their feel of the suburb, costs, rentals, and what they see the area doing?

@MTR: With zoning though, and Coolbelup - given I can never go more than 450-500 sqm at these > 310k land prices currently, I thought zoning would be pointless for me as I would never end up sub dividing?

Then agian I was shocked today to view New Haven (piara waterS) house and land packages by stockland being sold at 200 sqm or less blocks with only 88-120 sqm living space. Simply shocking what small size they can sell these days! SO perhaps I'm underestimating the zoning potential ... I assume you're referring to if say a 400-500 sqm block becomes r40 and therefore reduces minimum open space % requirements and setbacks? Excuse my ignorance.

I'll have to work on gaining more RE friends.. haha. You mentioned you pay holding costs during the building stage? I didn't think you were charged interest by some builders? Are they commercial? Or do they charge exhorbitant holding costs?

It is a progressive payment system though? Say 25% at various stages, and you pay interest between one stage to the next stage on the unpaid amounts that become payable at the last stage? If that makes sense?

Given Perth's property market, and the need to complete building within 18 mnonths of settlement for free landscaping and fencing bonuses.. how long do you reckon building times have blown out to in aus? With the cool coming out of mining surely we can command cheaper home building times and prices?

@Teno - that's quite sad the story of those paying for views, only to be obstructed. Makes commercial sense though.. smart/shift developers i guess!

That's good if building contracts generally tend to throw in the stone tops, lighting, electricals, and bare minimum dishwashers etc then I'd be keen. Where do I get started out of the many builders this weekend if i want to get an idea of prices to weigh this investment up?

@Tano - appears I"m paying a premium for sqm according to your graph. $741/sqm if I get my 400 sqm block... about 295k.

Guys - given I have till Sunday to decide, I know it is asking alot but what simple checklist of MUSTS should I get my *** into gear in doing? I still have a stable job, if all i need is a deposit now should I be racing to check if i can get pre approved this weekend?

Makes me worried why no one picked my block but my second and third choices (no 6 and 40 - at 374 sqm - were all gone). Then again I had indicated no pre approval and subject to finance which would have put me at lower priority to any pre approved buyer...

(Google searches seem to indicate complaints that city of armadale charges exhorbitant council rates - say 1.4k-2k for small blocks.... what do you deem reasonable?)

(Files attached as mentioned)

 

[Tano]

BAL and noise covenants might show in Appendix D but i would check Perth Airport http://www.planning.wa.gov.au/dop_pub_pdf/perth_airport_2004-2009_anef_overlay_map.pdf. You can ask the sales rep if this estate has a BAL rating or pay for an independant assessment yourself.

Heres some recent sales prices in Piara Waters (last column is block size)

1 CHAPEL WAY $550,000 30/08/2014 404
20 HEARST LINK $500,000 05/12/2014 416
8 LETTS LANE $287,500 18/09/2014 384
21 MORABA WAY $295,000 27/10/2014 407
11 ORIEL LANE $508,000 24/12/2014 392
4 PEARL LANE $515,000 02/09/2014 383
LOT 337 RHONE WAY $285,000 17/12/2014 384
LOT 339 RHONE WAY $282,000 29/08/2014 384
LOT 340 RHONE WAY $284,000 27/10/2014 384
LOT 341 RHONE WAY $284,000 24/10/2014 384
18 TORINO CRES $487,500 23/01/2015 384
7 VARAZZE WAY $275,000 08/09/2014 390
378 WRIGHT RD $490,000 07/09/2014 411

1) Green titled -> Public perception is better so they are worth more.

2)Flat lots themselves-> If you have a corner block with a retaining wall >0.5m ? i think builders may charge an extra fee since they are working at elevated heights.

3) I asked about "soil" -> Class A sand is the best. Else you could pay $500 for a bore hole test for $1500 for a full geotech.

4)Mentioned no BAL or noise covenants.->Council cannot impose coventants , only developer and neighbours. But FESA can impose the BAL protection. For point 3 and point 4 just ring any builder in the area that has started work and they should tell you if these are a problem. Attached is the ANEF contours

5) They did the hammond park subdivision : "Hammond rise" In july 2012, and "Brookley East" in brookley. Be keen to hear how these went and growth/return? I don't know much about Qube - any comments? No Idea sorry.