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Hi,
I'm considering buying a unit in newcastle west australia. This
area is decidedly bleak however there is a nice new set of 50 units (3
story), of which around 6 are for sale.
While inspecting the property I noticed that there is a block of land
next to the units is for sale and DA approved for another block of
units. I asked the agent about this and he said the effect of new
developments on the capital value of the existing units would be to
increase it.
I'd have thought that new developments may actually decrease the
price of existing units as there is a larger supply of units.
What do you guys think?
Regards,
Ivan
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Effect of new developments on existing block of flats
