Pete Wargent blogspot

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

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Friday, 21 October 2016

"Land prices...yet another all-time high during June quarter"

Land price ripper

Reported the Housing Industry Association (HIA). 

Residential land prices really have been steepling higher, up by another +2.6 per cent in the June 2016 quarter.

The result was again founded upon lower volumes from June 2015, underscoring the drip-fed release of vacant land.

This takes the median lot value to its highest ever level at $237,535. 

Over the past five years the median lot value in Australia has increased by +25 per cent.  

Source: HIA

In Sydney, the median lot value ballooned another +14.1 per cent higher over the financial year with volumes falling sharply lower. 

Sydney land sales declines by 38.3 per cent in the June quarter from a year ago, evidently keeping its greenfield housing and vacant land market under-supplied.

On the other hand, Hobart appears to be releasing land aplenty, with volumes up by +26.9 per cent from a year ago.