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Blocks break the $100,000 barrier

THE recent WA housing boom resulted in the average price of a block of land sold in Perth breaking the $100,000 barrier for the first time.

According to Hegney Property Valuations managing director Gavin Hegney the latest figures for the average price of lots of land sold during the June quarter 2000 reveal a 13.1 per cent increase over the past year.

Overall, the average price of a block of land sold during the June quarter was $100,590 compared to $88,929 for the 1999 June quarter.

“The upward pressure on land prices has seen the average price of a block of land sold in some outer city suburbs rise strongly as a result of the housing boom,” Mr Hegney said.

“”In Joondalup, for example, the average price of a block of land sold rose to $138,614 during the June 2000 quarter and in Gosnells, the average price of a block of land sold rose to $108,208.

“While the post-GST introduction period has seen a slump in home and land sales, the benchmark of $100,000 for an average block of land sold in Perth has been set.”

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