Quote:
Originally Posted by Nesti
The block in the hills is 17 acres and council approved for sub-division...I believe that sitting on an approved sub-dividable block, and doing nothing about it, is where the property market is, not heading. So as Perth expands you're effectively sitting on a block which has retained it's value in two ways; it hasn't been leached of value through sub-division and it is rarer. Mix in with the notion that property in Perth's hills is undervalued by 30-40%, makes for a good investment.
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Our dearly beloved government is allowing councils to rate properties approved for subdivision as if they had been subdivided. So your 17 acres would be considered to be about 60 * 1/4 acre house blocks. At the about $1K/pa rates we pay for our 1200m2 that would not be amusing.