Land Values Rise in Major Cities

Vacant land prices continued to rise across the combined capital cities during 2014-15. Data based on settled sales over the financial year shows that land prices rose 6% as an average across the capital cities. As at June 2015, the median selling price of vacant land was $258,543 in the capital cities and $156,500 across the combined regional markets. Median land prices in regional areas of the country are now 39% lower than those in capital cities, the widest differential since August 1990. Over the 25 years to June 2015, median vacant land prices have increased at an average rate of 6.8% per year. While prices have fairly consistently risen, there has been a consistent trend towards smaller lot sizes. Of those vacant land lots sold over the year to June 2015, the median lot size was 452m2 across the combined capital cities and 810m2 across the combined regional markets.

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