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Vacant lots up 85.5 per cent - UDIA

THE number of vacant lots on the market increased by 85.5 per cent in the March quarter, while land prices rose 8 per cent, according to figures released today by the Urban Development Institute in Western Australia. As at March 31 2007, 1,343 lots were on the market, an 85.5 per cent increase on the December 2006 quarter figures. The average price of land increased by a more conservative 8 per cent in the March 2007 quarter, which indicates the market is starting to settle.

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