Pete Wargent blogspot

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

'Huge fan of your work. Very impressive!' - Scott Pape, The Barefoot Investor, Australia's #1 bestseller.

'Must-read, must-follow, one of the finest analysts in Australia' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for accurate & in-depth analysis' - David Scutt, Business Insider.

'I've been investing 40 years yet still learn new concepts from Pete; one of the finest young commentators' - Michael Yardney, Amazon #1 bestseller.

'The most knowledgeable person on Aussie real estate - loads of good data & charts...most comprehensive analyst I follow in Oz' - Jonathan Tepper, Variant Perception, 2 x NYT bestseller.

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.