The cost of vacant land has continued to increase in capital cities over the past year providing the impetus for growth in the cost of established housing stock.
The median price of vacant land sales nationally as at June 2016 was recorded at $212,000. The median price has actually decreased by -2.3% over the past 12 months. Although nationally median prices are lower there has been a divergence between price growth across the capital city and regional markets.
Median sales price of vacant land,
combined capital cities vs combined regional areas
As at June 2016, the median vacant land sales price was recorded at $270,350 across the combined capital cities and $164,250 for the combined regional areas. Over the past year, combined capital city selling prices have increased by 8.1% while combined regional area sales prices have fallen by -1.9%. The median selling price for combined capital city vacant land…
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