Give Me Land...

Wednesday 01 May 2019

Recent research by CoreLogic highlighted five suburbs in each capital city with the largest average land area based on sales over the 12 months to February 2019. CoreLogic’s Cameron Kusher wrote “One thing that is immediately noticeable from this data is the fact that the annual change across these suburbs for houses is typically superior to that across the broader capital cities. Although this data broadly shows that suburbs with larger average land sizes are holding up better in the housing downturn, it also highlights that many buyers value larger land sizes. As new development increasingly moves toward higher densities and smaller lot sizes for houses, large housing lots are likely to continue to be highly desirable. The desirability won’t just come from more space but also in some instances they will be desirable because of the potential for sub-division in the future.” Here in the Manning region, our lot sizes are typically much larger than city areas. Metropolitan regions often have land areas around the minimum size of 450sqm. The Parklands development in Taree, for example, has an average lot size of 785sqm.