Definitely Maybe.

Since the controversial announcements made by the NSW government earlier this year relating to zoning changes many property owners have been left confused (and anxious) by how these changes may impact them.

At one end of the scale it’s a potential gold rush with re-zoned areas seeing astronomical increases in value and at the other end some residents are terrified about being left behind and living next to huge new apartment buildings.

Sadly, and perhaps predictably, many agents and developers have tried to capitalise on this and use fear to push owners into selling their homes.

My advice to those owners is just take your time.

It is true that if these changes come into effect it will be a seismic shift but they haven’t yet….the next major announcements are expected in the next 2-3 months.

The fact is, developers will pay more for your land if there is less risk and with the policy still undetermined the risks (to them) are high. The other factor is the cost of building, whilst there are signs that they may be easing they are still so high that many developers are being cautious.

So if I owned a property that may be impacted by these changes I would chat to my neighbours, gather all of the information and keep my powder dry for now.

Sorry, I went off track there…what I really wanted to talk about this week was the major announcement that the Gallagher brothers have buried the hatchet and announced they are getting back together…I’m sure that parka sales have skyrocketed this week and many poor wives and kids have been subjected to Oasis’s greatest hits (I know mine have).

Until next week,

David Murphy