I’m looking at buying a property in the Brisbane suburbs which has the potential for redevelopment down the track. When comparing zoning maps to what is for sale, it is clear that there is a mark up on properties that fall within the higher density areas (of course). I would like some opinions as to whether it may be better to buy as close as I can to these areas for less and hope that the zoning changes in the future?
As a side note, I would not be redeveloping in the very near future. What causes the zonings to change? And if you own a property near a higher density area, is it possible to apply to have your zoning changed? How does that all work?