Perth land prices top $400,000 as supply crunch deepens
The average price of residential land in Greater Perth has surged to a record $404,150, with listings down sharply and demand continuing to outstrip supply despite a lift in construction activity.
Property investors now form a much smaller portion of buyers in Perth's new land market. (Image source: Adwo/Shutterstock.com/UDIAWA)
The Perth residential property market continues to strain against supply shortages as the latest data from UDIA WA shows that the average price of new land has now reached above $400,000.
While Perth was once a haven for those looking for more affordable housing options, prices have escalated significantly in the last few years off the back of ongoing supply shortages and high demand.
The significant demand for new homes is being driven by the …
