Selling 2 blocks

[MTR]

Market has softened a little in general, still good turn over levels, but not rampant price growth, and as usual it is a two tiered economy in Perth.

Anything under $500k is struggling a bit, the higher end of the market being plus $600k and especially over the Million's is doing rather well.

Of course individual suburbs have there own micro economies of supply and demand, which suburb's are you selling into?

Kardinya.
My advantage/point of difference is that both the blocks will be 400 sqm, most that are selling in the area are around 375 sqm and narrow frontage.

Whoever buys my blocks can build decent 4x2 homes without having to go double storey, added bonus. I will also get the agent to contact a couple of spec builders for designs for the blocks.

I have noticed some of the blocks currently on the market are just sitting, but I also know they are overpriced.

There is lots happening in this southern corridor with the new hospital etc this helps. To be able to build a new home is an attractive option for some.

I also have the option of just flipping the house because I purchased at least $150K below its true value, however selling the land provides more profit.

MTR

 

[paulie]

I'd be thinking likely sale price in the $450k range (assuming Green Title sub division) but probably not too much of a discount if you went strata.


YOUR COMPETITON - WHAT LAND IS FOR SALE

No Street Suburb Type Size Street or rear Strata or Green Asking Price Days on Market
14A Bellairs Road Kardinya Land 396 street Green I think $450,000 34
14B Bellairs Road Kardinya Land 373 street Green I think $450,000 34
Lot 2/60 McBeth Way Kardinya survey strata 410 street strata $450,000 45
Lot 2 Ranford Loop Kardinya Land 372 street / corner Green I think $515,000 109

WHAT HAS SOLD - LAST 2 YEARS

No Street Suburb Type Size Street or Rear Green or Strata SOLD Date SOLD Days on Market Last Asking
2-Aug Berkshire Place Kardinya Land 343 $275,000 8/08/2012 303 $279,000 - $299,000
17a Gilbertson Road Kardinya Land $268,000 10/10/2012 182 $279,000
27 Waring Way Kardinya Land 883 $638,000 26/10/2012 18 Price on Application
2 Tintal Place Kardinya Land 510 street strata $430,000 3/11/2012 40 $445,000
7 Cusack Way Kardinya Land 765 $620,000 14/03/2013 51 $589,000 - $619,000
15 Battye Road Kardinya Land 962 $650,000 18/03/2013 56 $689,000
30 Kingston Place Kardinya Land 350 street green $435,000 22/03/2013 44 $435,000
12A Cameron Way Kardinya Land 334 street green ? $296,000 4/06/2013 44 $295,000-$315,000
Atwell Court Kardinya Land 304 rear strata $340,000 4/08/2013 19 From $349,000
6A Hutchings Way Kardinya Land 387 street ? $415,000 10/01/2014 4 Buyers Over $399000
3 Colebatch Hill Kardinya Land 442 street Strata $569,000 18/02/2014 7 Expressions of Interest
5A Dalston Crescent Kardinya Land 333 Rear Strata $353,000 27/04/2014 1 353000

 

[MTR]

Thanks Paulie
I did not go green because there are more set backs and you therefore don't have as much land to play with. At 400 and 417 sqm will allow for decent size homes 4x2 on strata and both have their own frontage. If I went green title then it would have to be 3 bedroom home due to set backs.

I did a fair bit of research on this strata vs green title, the agent needs to work it a little more to educate buyers, but I believe the resales are similar from what I have seen.

Appreciate you providing the sales figures, handy to have.

Cheers
MTR

 

[Tano]

Hi Marisa
Can you explain why you dont need the large setbacks for strata vs green title?
eg For R40 the R Codes show 4m primary setback. How does this differ for strata?

 

[westminster]

Hi Marisa
Can you explain why you dont need the large setbacks for strata vs green title?
eg For R40 the R Codes show 4m primary setback. How does this differ for strata?

+1 on this question.

I'm confused by you saying that too.

 

[MTR]

Thanks Tano & WM
I was given the wrong information regarding set backs for green titles. I checked this out yesterday and basically this is incorrect.

However, I would save money on doing strata as opposed to green title. Seems developers are going this way now due to extra costs.

Cheers
MTR