Is Property Development Still Worth It? I Ran the Numbers
from Purpose Property Podcast with Luke Wiles Hosted by Luke Wiles
What does it actually take to make a property development stack up? In this episode, Luke breaks down the real numbers behind a development project he’s currently working through in South East Queensland — from an $800K purchase and $50K renovation to a proposed $450K new build at the rear. We unpack the $1.3M total investment, potential $1.6M end value and roughly $300K in manufactured equity, plus the holding costs, tax, risk and time that can easily get overlooked when people talk about property development. Luke also shares why he prefers to start simple and build experience — renovations first, then granny flats, then larger development plays — rather than jumping straight into the deep end. If you’ve ever wondered whether property development is actually worth the risk, this episode gives you a practical look at the maths behind the opportunity.
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