From: Patrick Bruadair
I've been on the lookout for a suitable four unit development block (1012sqm block, 20m x 50m). I plan to build 4 double storey townhouses with strata titles(idea is to sell two, and hold two for rental).
I'm focusing my search on reasonably good capital growth suburbs close to the CBD in Perth (e.g. Victoria Park, within 5 km of CBD).A few people I've spoken to have claimed that capital growth for townhouses is unlikely to be good, even if the historical growth for the suburb is attractive (reason being that only four "doghouses" could fit on a 20m x 50m site, and it's the land, not the townhouses, that appreciate in value).
I've talked to several RE agents, who give me conflicting information. Has anyone on the forum got real capital growth data experience for similar townhouse developments near the CBD in major cities?.
I believe Michael Yardney gets involved in similar developments in Melbourne (any feedback would be appreciated Michael).
Many thanks,
Patrick
I've been on the lookout for a suitable four unit development block (1012sqm block, 20m x 50m). I plan to build 4 double storey townhouses with strata titles(idea is to sell two, and hold two for rental).
I'm focusing my search on reasonably good capital growth suburbs close to the CBD in Perth (e.g. Victoria Park, within 5 km of CBD).A few people I've spoken to have claimed that capital growth for townhouses is unlikely to be good, even if the historical growth for the suburb is attractive (reason being that only four "doghouses" could fit on a 20m x 50m site, and it's the land, not the townhouses, that appreciate in value).
I've talked to several RE agents, who give me conflicting information. Has anyone on the forum got real capital growth data experience for similar townhouse developments near the CBD in major cities?.
I believe Michael Yardney gets involved in similar developments in Melbourne (any feedback would be appreciated Michael).
Many thanks,
Patrick
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