This is only potential...the other is banks willing to lend developers. The land would need to gto up a lot to make it viable for developers....till then the development is a catch 22 as there won't be money in it.
So watch what house prices do first!
So watch what house prices do first!
this might be a repost but this is a great read: http://forecast2.id.com.au/Default.aspx?id=259&pg=5520
"Significant development opportunities have been identified in the town centres of Gosford-West Gosford, Woy Woy-Blackwall and Umina Beach. This will generally take the form of medium and high-rise development."
"Elsewhere, there are significant constraints to future development, with limited availability of land suitable for development. Growth in households is also expected to come from the conversion of holiday dwellings to permanent residences as well as the construction of new dwellings."
Help me out here as I'm very very new to investing - should I be worried of the potential development plans in the above areas? And can the oversupply of units bring down house prices/rents?
haywire