The real estate landscape is constantly changing, and it is no different when it comes to land value trends and the size of land available for sale. The increasing trend across Australia is that vacant land is becoming extremely expensive in our capital cities, but is more affordable the further you move out of the city. This is the same for lot sizes, they get bigger the further out you go. However, what is interesting is that the size of available land is now on the increase again, after steady decreases year on year.
Sydney is a prime example of this, with the median land price sitting at $450,000, which is a significant investment to consider, especially when you calculate building costs on top of this. It is representative of rising prices across the real estate market in Sydney. However, the median lot size is 620sqm, which is the highest it’s been since 2006.
It is safe to say that in Sydney and Melbourne, available land (and most importantly affordable land) is extremely hard to come by. This is where looking at home and land packages could be an option, with costs considered across both aspects. Check out our previous article on the pros and cons of house and land packages here.
Land Value Trends: Median Land Price and Size Across Australia
- Sydney Median Land Price and Size – $450,000 / 620 sqm
- Regional NSW Median Land Price and Size – $164,000 / 940 sqm
- Melbourne Median Land Price and Size – $242,000 / 453 sqm
- Regional Victoria Median Land Price and Size – $143,000 / 750 sqm
- Brisbane Median Land Price and Size – $229,000 / 556 sqm
- Regional Queensland Median Land Price and Size – $187,500 / 818 sqm
- Adelaide Median Land Price and Size – $220,000 / 439 sqm
- Regional South Australia Median Land Price and Size – $95,000 / 978 sqm
- Perth Median Land Price and Size – $258,000 / 395 sqm
- Regional Western Australia Median Land Price and Size – $170,000 / 800 sqm
- Hobart Median Land Price and Size – $164,000 / 824 sqm
- Regional Tasmania Median Land Price and Size – $96,000 / 1080 sqm
If there’s an area above that interests you, let us help. With iBuildNew you can search thousands of home and land packages, fine tune your search with our smart filters, make shortlists and compare them in a click. Should you need help, take advantage of our team of independent experts and make sure you get it right with iBuildNew. You can call us on 1800 184 284 or book a call
Written in July 2017