Wyndham Waters - any experiences

[Futurefund]

Hi All,
My first post - have done a fair bit of searching here for any experiences or knowledge of the "Wyndham Waters" estate (to the west of Melbourne) but only found some posts from early 2004 when it was first started.

I'm looking at a H & L package there for an IP. Land is $133K for 461 sq.m; house $207K for a 4 + 2 + study + DLG (low set); so total package = $340K

Apparently the suburb has recently been reclassified as Williams Landing (also the name of another new development next door). I have done as much DD as I can via the web and have read the various posts about Point Cook, Tarneit etc.

My concerns are that even though the estate seems to be selling reasonably well, what would the rental prospects be? I would need to rent out @ $320 per week to make it worthwhile. Any other opinions on this particular development?

Any thoughts much appreciated.

 

[Soren Lorenson]

you would be lucky i think to get 320pw, maybe when its build in 1years time?

i do know others here go for new builds all the time and rejoice in the depreciation,

 

[pi2012]

Not sure on Wyndham Waters.
We bought our PPOR in Berwick (Bought a land and built 3 Bedroom Plus Study) two years ago and just rented last month for $360. The entire house and land costed us $325,000 back then..i would expect if you have to do the same thing again today in Berwick, it will cost you $350,000 and i am sure you could get $340 plus on rent easily.