The future trend – Land estates for better affordability

According to the statistics from the Australian Bureau of Statistics, “the trend estimate of the value of total building approved rose 0.4% in June and has risen for six months.”
There’s a fast-growing trend in purchasing house and land packages in Melbourne, and the benefits are apparent. For example, huge stamp duty savings and tax depreciation are the main drivers that make house and land packages so appealing to Melbourne residences, along with the advantages of customization. More importantly, it is wise to invest now and watch the market value of the property increase while you build a new home.
The median house price in Melbourne has reached $750,000, and buyers are turning their eyes onto brand new estates on suburban fringes. In most new estate, house and land packages are selling for as little as $390,000. No wonder it is an excellent way to get a foot on the property ladder, according to REA industry experts.
According to CoreLogic research data, Melbourne’s median house price has jumped back significantly at mid this year, and new communities are providing great affordability compared to other established and mature areas in Melbourne. New policies such as the first home buyer grant has already jumped to $20,000 for new homes valued up to $750,000 in regional areas. Lots of potential buyers are focusing on new greenfield areas that maybe a little further from Melbourne’s CBD, but where the home prices are significantly lower.
At the end of the day, what you need to do is to take some time and do your research to decide what type of house you can afford without any significant risk. Also, it is crucial to evaluate your lending power, as this will narrow the range of products that are truly within your consideration.”
Interested in buying a piece of land or house & land package in Melbourne? Call 03 9998 2408 now to book your private information session.

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