Rental Reality for New Development

Hi guys,

I was after some opinions from people on what they would do for this situation.

I am looking with great interest at a new development that in my opinion will dramatically change the face of the suburb it is in. The suburb is one that is by no means a suburb that one would steer clear of, but it surrounded by suburbs that are definetly a step above it in terms of desireability.

The development is being done on the water - where there has been no residential property previously in this suburb.

My problem is that I think that the Rental Reality formula is a great tool. I just can't quite get my head around how I could use it in this particular situation. There is nothing that compares to this development in this particular suburb, and if I was to simply use the surrounding suburbs to put in to the formula I don't feel this would be accurate based on the fact that this is a brand new development.

If anyone has some ideas for me on how I should look at this situation it would be greatly appreciated.

Cheers,

Waz11

 

When i read this post i immediately thought of the Prince Henry Hospital redevelopment around little bay. I may be way off though

 

Leandro

Close but no cigar. I did have a look through the Prince henry site a while back and liked what I saw.

Has anyone got any ideas re: the Rental Reality application here?

Waz11