Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Thursday, 28 July 2016

Land prices rise to all-time highs

Reported the Housing Industry Association (HIA).

Capital cities saw a solid 3.4 per cent increase in land sales in the March quarter, although the market tightened in Sydney, Brisbane, Adelaide, and Hobart. 

But on the flip side, regional Australia volumes were down by 8.1 per cent.

Overall, land prices (median lot values) rose by another 1.2 per cent in the March quarter to well above $230,000. 

Over the past five years, the median lot value in Australia has increased by 20 per cent or $38,000, driven overwhelmingly by rising land prices in the capital cities. 

Source: HIA