Market Risk – Off The Plan

There are Significant Risk factors,  especially in a falling market or during a glut of unsold apartments in outer suburbia…

Market Risk – Let’s assume you paid the right amount to begin with and, when the property is complete, the market has dropped 15 per cent. The bank will only lend on the property’s value upon completion, not the sale or contract amount and you, the purchaser, are obligated to pay the difference. Let’s assume you sign a contract to Continue reading Market Risk – Off The Plan →

Are apartments going ahead in DD08 Zone?

With all the Manningham councils push for apartments in these DD08 high density zones, are they actually getting built?

A check of Building Permits issued in 2012 for 10 or more units for properties within precincts A & B of DD08 was recently conducted, there were four. We were unable to ascertain how many were built or in progress from the councils records.

Four (4) properties were issued with building permits in 2012, that were within this criteria. Continue reading Are apartments going ahead in DD08 Zone? →

Manningham Apartment Growth and Ongoing Value

Just keeping an eye on how the apartments and houses are traveling in Manningham – follow the link below for the latest, and check your own suburb.

Eastern Golf Course Residential Redevelopment Amendment C101

Susie has been monitoring this one for us,  there’s going to be a lot of traffic on it soon You can see from the extensive list of changes below that the councilors are challenging the planning departments reports… A very good thing we think.

At the Council meeting on 27 August 2013, a report recommending that Council seek authorisation of the Minister for Planning to prepare a planning scheme amendment to rezone the EGC site to facilitate the future subdivision and residential development of the land.  This is the first step in Council’s consideration of Mirvac’s request to redevelop the golf course site.
 Note under  “5. CUSTOMER/COMMUNITY IMPACT
5.1. The proposed Development Plan has been lodged for Council’s consideration
at the same time as the request for amendment, so that Council and the
community can ascertain how the entire site is proposed to be developed.
5.2. Importantly, the Development Plan Overlay exempts subsequent permit
applications from advertising and exempts third party appeal rights. This
means that the amendment process is the only opportunity for residents and
other interested parties to make a submission in relation to the proposed development of the subject site. Continue reading Eastern Golf Course Residential Redevelopment Amendment C101 →

Adverse Possession – Old surveyors were not perfect

Recently a friend of mine told me of a battle beig fought over a several inches of soil between two neighbors. One building a new house was told by the builders that the fence was in the wrong place, and had to be moved a foot over to match the plans.  It turns out each block on the  street was slightly out of square as it was an old neighbourhood. How ever making this small correction was going to damage the adjoining driveway etc, so they didn’t want to do it.

Legally, if you have had a section of land within your boundary or fence for over 15 years and have maintained it for that period, then it is legally yours via “Adverse Possession”

  The “no lawyer” alternative play in this case is say – “The land is legally mine via Adverse Possession, however I am willing to forgo that land if you replace the fence into it’s correct position, and make good my driveway and anything else affected by moving the fence.”  I would also suggest you Continue reading Adverse Possession – Old surveyors were not perfect →

OVERDEVELOPMENT STILL POSSIBLE ON SMALLER SITES – after C96

How safe do you think side streets are from over development?

Manningham Council’s decision not to insert a condition prescribing a limit of two storey development on smaller sites, in the revised table 1 to schedule 8 document, has created a great deal of uncertainty. Whilst the Municipal Strategic Statement (MSS) has indicated that “high yield” two storey town  house style “should” only occur on land areas less than 1800sqm, it remains subordinate to the revised table 1 to schedule 8, which does not specify Continue reading OVERDEVELOPMENT STILL POSSIBLE ON SMALLER SITES – after C96 →

Interest in Units on the Rise – not so much appartments.

This Leader article backs up our recent articles around the lack of  appartment progress in Manningham.

The attached leader article reports comments from leading Doncaster real estate agent. Notably that “people do not want to compromise their home but do not want a quarter acre block”, which might explain why units (villa or town houses), according to the Manningham website households data, indicates a growth rate of NEARLY 4 times that of apartments (1.5% to 0.4%)

Which is a disaster when you consider the huge amount of promotion the Doncaster Hill strategy has received from Manningham Council in the last decade.

This might explain Continue reading Interest in Units on the Rise – not so much appartments. →

APPROPRIATENESS OF MANNINGHAM’S HIGH DENSITY STRATEGY IS QUESTIONED AS DEMAND FOR APARTMENT LIVING DECLINES

Sandman Oz” shares some thoughts on why Highrise  hasn’t ever moved in Manningham…

Speculative permits, risks associated with purchasing off the plan, lack of a fixed rail infrastructure, lack of public off street parking and difficult terrain are among the factors contributing to a low demand that has stymied the progress of high density apartment development in Doncaster.

The Doncaster Hill High-rise Strategy was adopted in February 2002 as an Activity Centre with bold plan to build 4,080 high-rise apartments by the year 2021. We are now in the 12th year of the period and only Continue reading APPROPRIATENESS OF MANNINGHAM’S HIGH DENSITY STRATEGY IS QUESTIONED AS DEMAND FOR APARTMENT LIVING DECLINES →

Manningham Council Website (HOUSEHOLDS) and ABS

These percentages suggest that  the Doncaster Hill and DDO8 apartment strategies are simply not working…

Population

The 2011 Census Estimated Resident Population of Manningham was 116,958, an increase of 1.6% from 2006

Doncaster, which include  Doncaster Hill and much of  DDO8, was  only1.52% in the 5 year period compared to a national growth of 1.8% in one year. Continue reading Manningham Council Website (HOUSEHOLDS) and ABS →

How Long Should We Wait – Action 2.3: Review cul de sacs and side streets within sub-precinct A of DDO8 – Council Agenda 28 May 2013

If you ask an important question of your council how long is it fair to wait ? One seasoned and concerned rate payer wanted to share this..

++++ Original Request as sent by email +++ Now a month old… no council answers  yet.
Sent: Friday, July 05, 2013 12:27 PM
Subject: Action 2.3: Review cul de sacs and side streets within sub-precinct A of DDO8 – Council Agenda 28 May 2013
Dear Jennifer,  (Jennifer Yang,  Mayor of Manningham )