market.Yourinvestmentisonlygoingtobeworthit
iftheexistingpropertyisinanareaoflowsupplyand
highdemand–youcangetafeelforthisbyhavingit
assessedbyavaluer.
If it has gone up in value considerably over the past
fewyears,subdividingcouldbeagreatwayofrealising
the full potential of your land. On the downside, it does
involve large costs and a lot of time and effort.CHECK THE RULES
First, find out if subdividing is even an option. Each
council has rules and regulations that differ greatly
from area to area. Before spending money on a prop-
erty surveyor or town planner, it’s a good idea to check
the town plan to get an idea of the minimum lot sizeDivide and
conquer
There may
be no need to
buy elsewhere
- subdividing
your existing
property can
really pay off
L
ooking to cash in on the property boom? If
youalreadyownaninvestmentproperty
or your own home, there might be a way to
take advantage of soaring prices without
havingtobuyagain.Subdividingisgaining
traction, especially in Sydney and Melbourne, where
land values have soared in the past 10 years.
Activity across the country grew by 2.7% in 2016
to $33.06 billion, according to the March Renovations
RoundupfromtheHousingIndustryAssociation(HIA).
Shane Garrett, HIA senior economist, says 2016 marked
the strongest year since World War II for new home
building starts.
Whatmakesagoodsubdividableproperty?Fora
start you need a thorough understanding of the local
PROPERTY DEVELOPMENT
STORY
STEPH NASH