澳洲Australia property Infrastructure & Development - ho
在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m
Long time reader, first time poster
I've been carrying out my own research on suburbs etc.
And I know that Buyer Agents and seasonal investors take into account the infrastructure development of cities/suburbs into account.
I have a few questions that i'd like your thoughts on:
A) I'm curious if there aren't any major development in a suburb/city council does that automatically mean its a risky purchase? and that I should consider elsewhere
B) In contrast, if there are major developments happening in a suburb for example, if one is building a highway behind the street you want to buy in, I would assume that impact negatively to the property. But if the highway is say several blocks away, then it could mean better traffic etc to and from work, CBD, transport.. which could add positive points in your decision making.
How do you normally judge if a development project in an area is bad enough to steer away from entirely? As above, the proximity of the project vs the property you are looking at might have different impact on it. But the project may 'overall' provide capital growth for that suburb as a whole.
Do you normally look at how it will impact one property, or the suburb overall for growth?
C) I've been researching council sites for any proposed major development plans, which category or menu item do they normally sit under? A few council web sites have this hidden that I cant make out where these documents are. Or if I cant find it, does that mean they have no major development plans in place ? Which does sound odd as I would have thought most city councils will have some future development planned or proposed. Which kind of relates to Question (A) above..
General rule is basically supply vs demand. If there are a lot of development in the area, that can be good as it makes the place more desirable to live. But if you are buying a property that is just one of thousands in a large development, chances are there is no scarcity so you will have more difficulty selling it or renting it out unless you compromise on the only thing that can make you stand out: price.
To me it's like water and food, it's essential for my ip purchases. For instance, would you like to live in a suburb where you can walk to the train, walk to great shopping with good eateries, walk to the cinema or walk to schools is far more attractive to me as a place to live. Since cap growth depends on demand you have a greater chance of increase in a suburb that has developed infrastructure.
Depends on the overall impact on the area in terms of inconvenience during construction and increased amenity upon completion. I lived in a place in SA for several years just before a major highway upgrade, and what you saw was a lot of whingeing from the community during construction, even though it was obvious that things would be better upon completion.
At the time of upgrade, there was a lot of activity from builders and the smart money investors, who promptly went in and built several townhouse development that sold quickly, at good prices.
When the thing was finally finished, prices went up across the board, because it really was a major improvement, and so my thoughts on the matter is that the short sighted "I want it to be nice, I want it to be perfect, I want it to be convenient RIGHT NOW" crowd were either put off, or waited for the upgrade to be complete, while the smarter types saw the potential immediately and jumped in before the impending price rise, which probably cancelled out overall demand based price rises during upgrade, with a quick uptick/correction when all the bulldozers were gone.
How much does it matter? A lot!
Hospitals, trains, schools, power utilities so there's no shortages etc.
And then the next question. The quality of this infrastructure.