It appears that in the current economic climate - Neighbourhood lots are appropriately priced - but Resort (golf course frontage) lots are overpriced in the eyes of most property valuers.
This doesn't affect us in a major way (luckily our finances are pretty good) - but anyone looking to borrow a significant portion of the land value to build a house on a Resort home is going to find themselves in a bit of difficulty.
I'm guessing that this may also have an impact on golf course lot sales - at their current prices they may not sell very many. In good economic times - from my knowledge of other golf course estates - golf course lots are the most popular and sell out well before internal lots - I'll be surprised if we see that when Stonecutters Ridge goes fully public in a few months time.
Perhaps it might be worth attempting to re-negotiate the price of our lot...unlikely but I suppose you'll never know until you ask!
Stonecutters Ridge hosting the NSW Open
11 years ago
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