Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

New data shows value of large house blocks

Published 22/03/2019, 12:01 pm
Updated 22/03/2019, 12:01 pm
Capital city suburbs with the largest average land size

Capital city suburbs with the largest average land size

The below table highlights the five suburbs in each capital city with the largest average land area based on sales over the 12 months to February 2019. It also shows the median value of these suburbs and the change in median values over the year.

Capital city suburbs with the largest average land size

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.

In Sydney, house values have fallen by -11.5% over the 12 months to February 2019. Looking at the five suburbs listed, only Kenthurst has recorded a weaker annual change.

Melbourne house values are also -11.5% lower over the past year and all of the suburbs listed have seen more moderate value falls than that across Greater Melbourne.

Brisbane house values were -0.4% lower over the past year and two of the five suburbs have seen a stronger annual change.

The 0.9% annual increase in Adelaide house values means that four of the five suburbs listed have seen stronger value growth over the past year.

Perth house values are -6.7% lower over the past year with four of the five suburbs listed recording either value increases or more moderate declines than -6.7%.

Greater Hobart house values were 6.8% higher over the past year and three of the five suburbs listed have recorded growth in excess of that.

House values in Darwin increased by 0.2% over the past year and three of the five suburbs with the largest average land sizes recorded greater value increases than that.

While Canberra house values increased by 4.1% over the past year, only two of the suburbs listed recorded growth in excess of this.

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.