Why Investing in New Home Developments in Greenfield Areas is a Good Idea

New home developments in greenfield areas are becoming an increasingly popular choice for home developers. A greenfield location is an undeveloped area located in a city or rural area, and in most situations these locations are being considered for urban development. Choosing to build in these areas can be of great advantage in terms of ease and affordability.

Affordability and Growth

screen-shot-2018-05-14-at-9-49-25-am

If you are searching for affordability then greenfield areas may be the perfect places for you to consider. New home developments are on the rise and this is a perfect time to build in these areas for a lower cost. There is also massive growth potential for these areas. Here is a list of greenfield areas in Victoria.

Ascot (Northern Suburb of Bendigo)
Median House Price: $360,000
Annual Growth: 26.9%

Officer (South-Eastern Suburb)
Median House Price: $524,000
Annual Growth: 23.1%

Armstrong Street (Suburb of Geelong)
Median House Price: $480,000
Annual Growth: 22.6%

Shepparton North (City of Greater Shepparton)
Median House Price: $380,000
Annual Growth: 22%

Mickleham (Northern Suburb)
Median House Price: $520,000
Annual Growth: 21.3%

Clyde (South-Eastern Suburb)
Median House Price: $540,000
Annual Growth: 20.5%

Plumpton (North-Western Suburb)
Median House Price: $536,000
Annual Growth: 20.4%

Building Benefits

screen-shot-2018-05-14-at-11-11-33-am

One of the major benefits of investing in greenfield areas is the fact that there is still large portions of land available to begin your new development. Often when building in suburbs it may be necessary to knock down a house to start a new build. This process can end up being expensive and lengthy. A newly developing area such as those listed above will provide you with options and an ease in beginning your investment build. This can make your investment property smoother and more achievable.

High Rental Yield

Renting outside of Melbourne in these greenfield suburbs can provide great returns. The affordable housing prices and demand for family housing means that your rental income will be a rewarding benefit resulting in high rental yield.

Design Advantage

Starting fresh on vacant land means that you can have maximum design flexibility. There are many things to consider when buying vacant land. A new build on fresh land will also require a lower amount of maintenance which will reduce costs in the long run once the home is completed and occupied.

For more information about investing in greenfield areas, speak to one of our expert consultants on 1800 184 284 or book a call online. We can take care of any further questions or queries and help match you to a builder that will meet your investment needs.

Katrina Ellis

Katrina is passionate about plants, interior design and inspiring others to create their perfect living space

About

iBuildNew is the market leading aggregator dedicated to residential home construction and land development. As an independent platform, iBuildNew helps Australians identify and compare new home designs, house and land packages and land estates. It’s the smart way home buyers, who are considering a new build, can find the ideal options to match their individual needs. Home building is a big decision, we make sure you get it right.

You may also like

Jul 12, 2019

Suburb Profile: Benalla

Are you tired of the hustle and bustle of the big city life and want to lay your roots ...
Read More
Jun 26, 2019

Suburb Profile: Hawthorn

The vibrant suburb of Hawthorn is situated a mere 6 kilometres east from Melbourne’s Ce...
Read More
Jul 31, 2019

Suburb Profile: Golden Bay

Known for its relaxed atmosphere, coastal scenery and green parks, Golden Bay in Perth ...
Read More
Jul 24, 2019

Suburb Profile: Helensvale

In Queensland, the suburb of Helensvale is located around 65 km south-east from Brisban...
Read More
Jul 17, 2019

Suburb Profile: Rockbank

The town of Rockbank can be found 29km west of Melbourne’s Central Business District, p...
Read More
Aug 12, 2019

Suburb Profile: Midvale

Forming part of the City of Swan and the Shire of Mundaring, Midvale is a Western Austr...
Read More
Aug 12, 2019

Estate Profile: Serenity – Rockbank, VIC

Serenity has been acknowledged as the ideal place to settle in with your family and bui...
Read More
Aug 12, 2019

Suburb Profile: Campbelltown

Located in Sydney's metropolitan region, the suburb of Campbelltown is a thriving city ...
Read More
Aug 20, 2019

Suburb Profile: Kellyville

Taking its name from Hugh Kelly, a prestigious former landowner, the New South Wales su...
Read More
Jul 30, 2019

Suburb Profile: Park Ridge

Once a prominent suburb for timber manufacturing and poultry farming, Park Ridge is tod...
Read More
Jul 04, 2019

Suburb Profile: Lyndhurst

The area of Lyndhurst is a flourishing suburb that can be found 35 kilometres south-eas...
Read More
Aug 21, 2019

Estate Profile: Amber – Wollert, VIC

Located within Melbourne’s in-demand outer-north growth corridor, Amber, by Oliver Hume...
Read More
Aug 22, 2019

Suburb Profile: Northgate, South Australia

The South Australia suburb of Northgate is situated just 12km north-east of Adelaide’s ...
Read More
Jul 10, 2019

Suburb Profile: Logan Reserve

Once a prominent suburb for farming and timber manufacturing, Logan Reserve is today a ...
Read More
Jul 10, 2019

The Benefits Of Living In A Walkable Neighbourhood

When searching for your next home, a key factor to be mindful of is the walkability of ...
Read More
Aug 16, 2019

Suburb Profile: Caboolture

Located just under an hour away from the city lights of Brisbane, Caboolture is the per...
Read More
Jul 10, 2019

Suburb Profile: Mango Hill

On the road to Redcliffe in QLD Australia lies a town named after the mango trees that ...
Read More
Jul 19, 2019

Suburb Profile: Seaford Heights

Forming part of the City of Onkaparinga, Seaford Heights is a developing, coastal subur...
Read More
Jul 16, 2019

Suburb Profile: Schofields

The suburb of Schofields is situated 45 kilometres north-west from Sydney’s Central Bus...
Read More
Aug 12, 2019

Estate Profile: Merrifield – Mickleham, VIC

Regarded as one of Victoria’s largest master-planned mixed-use communities, Merrifield ...
Read More
Jul 12, 2019

Suburb Profile: Plumpton

Listed as a new thriving suburb in the city of Melton, Plumpton can be described as a r...
Read More
Aug 21, 2019

Estate Profile: Redlands – Werribee, VIC

With impeccable town planning paired alongside a strong focus on sustainable living, Re...
Read More
Jul 24, 2019

Suburb Profile: Leppington

Forming part of the City of Liverpool, Leppington is a New South Wales suburb situated ...
Read More
Jul 03, 2019

Suburb Profile: Aveley

Situated on the doorstep of the Swan Valley, Aveley is a suburb that combines the best ...
Read More

Get more from

Browse House and Land Packages