Apartments in particular are expensive to build, costing around $4,000 per square metre. When you add in the land and subdivision costs, it can end up costing more to build them than they can be sold for, particularly in suburban areas. Only small, inner city apartments, and apartments in some prime areas with affluent demographics, appear to be worthwhile for developers to build.
Terrace houses are more cost-effective to build, at around $1800–$2,000 per square metre. However, the draft AUP prioritises apartments – 50% compared to 3–4% for terrace housing.Thank you for the incredibly detailed assessment of the improvement discrepancies, all the considerations and the suggested course of action. You've made everything understandable and clear.
In all a good result, thank you very much for all your involvement Maggie, you've been wonderful to work with and certainly made my first home buying rodeo a lot smoother than it might otherwise have been!
Thanks again, I wouldn't be making such informed decisions without you!
- Ben Tong, November 2020
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