Golf club course housing estates.
Melbourne has at least fifteen golf club estates for housing current or being built. Jeff Blunden, a property researcher, says, while these housing estates have been a great success. Into the fiuture, in practical terms no more will be built. The value of land has simply risen too high. Few home owners may actually play golf, they like the peace, and the view over the golf course. Arguably, one of the most successful has been, Sanctuary Lakes, near Point Cook. In the USA, people pay 30% to 50% more for a block on a housing estate. While, here in Victoria they can be bought at no premium to normal land. A 70 Ha golf course estate takes away 1000 blocks equivalent for housing.
Currently, land values vary between $280,000 to $1M a block for land on Golf course adjacent estates.One can still buy golf course adjacent land at Eyesenbury for $260,000.
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