Glory days over as residential land prices decline
Interest rates have finally dragged land sales into price fall territory after a couple of years of strong growth, with two major east coast cities precipitating the downturn.
Two cities have dragged land sales prices into negative territory nationally. (Image source: Shutterstock.com)
Large price falls in Brisbane and Sydney have dragged land sales values down nationally after two years of strong growth.
Values in Greater Brisbane also down for the quarter by 14.3 per cent, while Sydney’s median land price was down 8.6 per cent in the September quarter and 11.6 per cent over the past two quarters.
Modest growth Melbourne, Hobart, Adelaide and Perth was not enough to stop land sales slipping into negative territory nationally…
