How to buy house and land packages in Australia
If you’re planning to buy a house and land package, it can be tricky if you’re not familiar with the ins and outs of...
With Sydney facing what could be described as a land shortage, it’s important to know where available land is to dictate where property will be built in the future.
Various market considerations are pushing up demand for space, and prices, surrounding Badgerys Creek, according to Robin Luo, CEO of KSI Investments.
Understanding the topography of Sydney is significant in understanding the rise of interest in areas like Badgerys Creek; Sydney has approximately an 80 kilometre radius of flat land for property to be built on, while Melbourne’s radius is over 200 kilometres wide.
“The south-west Sydney region is the last frontier for land in Sydney. It’s the last opportunity for investors to buy unimproved farm land to convert into residential. Basically, everywhere else in Sydney has already been through this transformation process over the past 30 years,” Mr Luo said.
With construction of the Badgerys Creek to be started this year, this year’s budget made note of various funding projects for the area, which is driving land prices up further, said Endre Kollo, KSI Investments’ executive director.
“In preparation, the state government has already committed hundreds of millions of dollars to building new train stations and putting in new roads, the infrastructure support from the state government has been wonderful for land prices in the region,” he said.
Mr Kollo expects land values in the south-west region of Sydney to keep growing. In doing so, investors could attempt build to rent strategies.
“The land market in the south-west region on the other hand, is a buoyant market and we need to act quick to snap up good land otherwise it gets taken up by another developer within days”.