Sold & Sold! Seller announces "on the market" and tries to retract it?! | E013 

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Hi mate! From my observations, the outer western suburbs have a lot of land supply that are open for development. Home and land packages are very common and estates start filling up with new houses with the prospect of improved lifestyles once infrastructure is further developed. I’d imagine there’s quite an allure for investors to speculate on price growth once the areas are fully developed while capitalising on savings in stamp duty on off the plan builds or purchases and also achieving decent rental yields due to the relatively low property prices. However, the drawback to this is that with new developments cropping up everywhere, houses that are 2-3 years old can seem dated compared to brand new builds. This means that capital growth may not always be guaranteed. Home owners seem to enjoy the space and affordability. 4 bed 2 bath homes are very popular and have quite spacious and comfortable living spaces relative to the homes available in more densely populated areas. Its quite common for people who have growing families, planning for children or have multigenerational living situations to be attracted to this kind of living. The outer western suburbs offer this at a relatively affordable price for how modern the homes are aesthetically. Overall the outer west has a lot of opportunity for development with loads of building companies ready to offer their default floor plans with a variety of customisations. In comparison to other suburbs with less land supply, developments are typically custom projects that are carried out in consultation with engineers, architects, designers, local council etc. I’m no expert, but these are my observations of the outer western suburbs compared to other areas of VIC. Hope this helps! 🙏