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Why are home and land packages so cheap?

I have been looking at some AV Jennigs home and land packages in South Australia. And they have these brand new 3 or 4 bedroom houses for the value of some older and smaller houses. It just seems too cheap for a new house. Whats the catch? Will they increase in value?

Public Comments

1. You from Australia? Not quite sure? You might have to go there to check it out if your seriously interested. The housing market in the US is definitly a buyers market it right now. Both property and land is worth very little with the big time recession. That might be the case down under as well. As for whats the catch? Idk if their is one these days? They will eventually increase in value..when? Who knows? Could be 10 months or 10 years. Nobody wants to be paying a mortgage that is more expensive then what their home is worth these days, thats for sure. Cheers