There is a site on Dandenong Road Oakley
730sqm, Plans permits for 3 town houses, asking $900k
thats $300k per site,
Construction, lets say $200k turnkey, which brings it up to $500k per dwelling
Brand new townhouses selling for anywhere around the $550k mark (ie $500+GST), some in the high $500s, ie ($540k+GST)
at the $550k ($500+GST) mark,
the net profit is a big fat ZERO, and i havent included any holding costs,
who on earth buys these sorts of sites???? seriously
im struggling to find an answer
730sqm, Plans permits for 3 town houses, asking $900k
thats $300k per site,
Construction, lets say $200k turnkey, which brings it up to $500k per dwelling
Brand new townhouses selling for anywhere around the $550k mark (ie $500+GST), some in the high $500s, ie ($540k+GST)
at the $550k ($500+GST) mark,
the net profit is a big fat ZERO, and i havent included any holding costs,
who on earth buys these sorts of sites???? seriously
im struggling to find an answer