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The HIA-CoreLogic Residential Land Report has been released, which revealed a whopping 29.3% rise in Melbourne’s median lot price per square metre, with the typical median Melbourne lot value surging to $359,000:
“In Sydney, residential land prices peaked at $479,000 per lot in the September 2017 quarter. Today’s results indicate that the typical lot price in Australia’s largest market has fallen to $467,500 during the March 2018 quarter,” explained Shane Garrett.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.