Would have thought the old house on big block scenario had run its race considering sellers now include 'development potential' into the sale price.
Look at areas such as Dandenong(s/e melb) for examples. 9 in 10 homes for sale include the words 'development potential.'
Crappy suburb with old houses on big blocks getting knocked over for two units. It has lifted the median price for houses through the roof. The key there was to get in 3-5 years ago at $330-350k. Now with the secret out your paying $450-500k.
Most developers wont touch it if they cant make 25%.
