All Topics / Help Needed! / Subdivision of vacant land

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  • Profile photo of possikiempossikiem
    Member
    @possikiem
    Join Date: 2014
    Post Count: 1

    I am a co-owner of a large block of land, currently zoned rural (NSW). I have been told that the land is eligible to be rezoned to residential in a few years time. This land has rural-zoned land on two sides, residential on one, and a road on the other. It currently has no power, water, gas or sewerage. 

    We can sell the land now, or (as I am being encouraged to do) sit on the land for a few years in the hope that it will be rezoned and will therefore be a more appealing purchase and attract a higher sale price.

    How much does zoning affect the sale price? We won't be in a position to subdivide the land, so we would be selling it as is.

    Profile photo of crjcrj
    Participant
    @crj
    Join Date: 2004
    Post Count: 618

    Is there demand for residential zoned land in the area or is there a lot of undeveled residential zoned land currently?  Check with the council whether they would consider rezoning. Does the Council have a mastertplan for future development

    Profile photo of Escal8Escal8
    Member
    @escal8
    Join Date: 2011
    Post Count: 8

    Could you and other co-owners push the local council for a zoning change?

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