Capital city lot prices surge to another record high
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The HIA-CoreLogic Residential Land Report has been released, which revealed a whopping 15.5% annual increase in the median capital city lot price to an all-time high $336,124, despite a 22% slump in sales volumes and broader housing market weakness:
“The weighted median residential lot price for Australia’s state capitals increased by 3.8 per cent to $336,124 in the June 2018 quarter to be 15.5 per cent higher over the year.
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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.