Does anyone wonder if once the rezoning is official and a stack of blocks get redeveloped with 2, 3, or more houses that the Girra market will become over saturated? Think Balgacurrently where every 3rd old quarter acre block now houses triplexes. Prices stagnant due to so much supply. Residents complaining about all the development to whete the council may now make tougher R codes or something.
Ie if many developers buy in Girra and over a 5 to 10 yr period many develop. As well, the remaining big.block houses would nearly be the same price as the new places so ppl might just buy those instead?
Hi Beijos
I really do not see an issue, as I expect my properties will be developed and sold, in any case they will be positive cashflow from day one so it is not a concern to me whatsoever. There will always be highs and lows in property, I guess it is a matter of making sure one gets in at the lower base.
BTW, Balga properties at the moment are selling like hotcakes, I offered over asking price and someone offered more for a 3 unit site, what can I say, this market is hot (development sites).
Cheers, MTR