Why has property in Frasers Landing fallen significantly?

Is this due to over supply or other factors?
Question asked via StreetAdvisor The opinions expressed here are those of the individual and not those of Ray White.
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HallsHead 2yrs+
I would suggest that it is not just Frasers Landing - all of Mandurah has fallen in price with the downturn. However, Frasers Landing property I believe was sold off to many non-Mandurah people, of which it appeared a good price to outsiders as Mandurah is very affordable. However, again, the rest of Mandurah isn't really advertised to Perth people unlike Frasers Landing was.

Frasers Landing is in the suburb of Coodanup, of which personally and by many other people in Mandurah is considered one of the more "working class" suburbs to put it nicely.

To sum it up - Frasers Landing was overpriced compared to the rest of the Mandurah property market when first released and many Perth people bought - Frasers has now decided to sell of their display homes and cannot sell them at the high prices - they have now reduced them to more realistic prices.

You must realise the lot sizes are relatively small for Mandurah standards, and the land would of been relatively cheap for the developer. Plus, the houses are not too large, and when built on a large scale, they wouldn't of cost Frasers a lot of money (considered they are also wooden construction).

A number of factors, however, it isn't just Frasers Landing that has fallen significantly in prices.
The opinions expressed here are those of the individual and not those of Ray White.
PerryK 2yrs+
If you're going to want to have your opinions taken seriously (and lets face it, it is only your opinion and I'm not sure what your evidence / basis for the somewhat dubious facts are) you might want to read and correct your copy before posting.

This aside, "lightweight construction" is not necessarily cheep as you suggest but is far more thermally efficient than double brick, so its less cost to heat and cool your property. Did you know that WA is unique in Australia with its double brick construction, everywhere else uses lightweight techniques or a brick veneer style of construction.

As I understand it, little happened in the way of sales activity at Frasers Landing when 1st launched and yes the prices were much higher then, but that was also in the grip of the Global Financial Crisis (GFC) and no one was buying anything, anywhere. It clear that the developer did the prudent thing and revisited their plan, reduced the pricing and re-launched the project based on what they believe the market will pay. That pricing as it currently stands today is very keen indeed but as the sales activity begins to pick up (which it will) so to will the prices be adjusted back to an upward trend. Key point then is that right now its tremendous buying but they will be running out the door for sure

The level of amenity and developer features included in Frasers Landing make it just about the best "bang for buck" in WA, if not Australia. The combination of compact lots (which is only really the case in the initial stages as far as I'm aware) and smaller homes fits in with the demographic trends evident throughout Australia. Did you know that the average Australian Dwelling has only 2.6 persons living in it!

No I'm not the developer, nor do I represent the developer but I know a good buy when I see it and have been paying particular interest to this site in recent times. I do advise directly on specific property and property investment and have recommended this specific site widely and in recent times have around 7 - 8 clients established there at prices (for turnkey, above average specification homes for an average price of $370,000. Hard to beat and high prospects of solid capital growth when the available, virgin land in Mandurah runs out around 2016.

Finally, in my experience at least, the Mandurah population tend to have a very insular view of their town and region and cant seem to understand or recognise the immense opportunity it presents through the diverse lifestyle choices available there. As with any and every region / population center throughout Australia there are good and bad regions, however, with growth these not so good (bad) areas do tend to go through a significant demographic change that is inevitable, usually because of their geographic location to the key amenities of the surrounding region. This is no different with Coodanup and I would argue that the morphing to a more "socially acceptable" address is well advanced and evidenced by estates such as Placid Waters and Sanctuary Waters (or Nairns), both or which are actually also Coodanup officially! Frasers Landing is perhaps superior to both these and will definately give a lift to the balance of Coodanup
The opinions expressed here are those of the individual and not those of Ray White.

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