Blocks break the $100,000 barrier
You have no credits left. To view this article subscribe to Business News.
You have used {{points}} and have {{current_points}} remaining. Your credits will reset on {{reset_date}}.
This article is part of a special report and is available to paid Business News subscribers only.
You can purchase access to this special report or subscribe to Business News.
You can purchase access to this special report or subscribe to Business News.
This article is premium content and is available to paid Business News subscribers only.
Subscribe to Business News.
Subscribe to Business News.
Tuesday, 14 November, 2000 - 21:00
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.”
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.”