HOBART LAND SALES AND PRICES RISE

The report from HIA, Australia ’s largest building association, and rpdata.com, Australia ’s leading property information and analytics provider ; shows that the median land value grew 3.5 per cent in September 2009 quarter, but fell 10.3 per cent on the September 2008 quarter.

Land sales also rebounded solidly. “The number of land sales for Hobart recovered strongly after a very disappointing June quarter result, and finished the September 2009 quarter at the same level as the September quarter of 2008” said HIA Tasmanian Executive Director, Stuart Clues .

“The fact that land sales rebounded from the mid-2009 trough offers promising hope that a new home building recovery will emerge in 2010,” said Mr Clues.

Aside from Hobart , the most expensive residential land market in Tasmania for the September 2009 quarter was Northern Tasmania with a median land value of $112,000. Mersey-Lyell recorded the least expensive median land value for the quarter at $78,000.

Nationally, the cost of land jumped 5.7 per cent to $181,158 in the September 2009 quarter.

“ Sydney remains the most expensive residential land market in the nation with a median price of $290,000. The Richmond Tweed region in NSW is second (median price of $255,500), followed by the Sunshine Coast ($241,500), the Gold Coast ($241,500), and Perth ($226,000).”

Conversely, there are still thirteen markets across Australia where median land prices sit below the $100,000 mark. The least expensive market is the Murray Lands region in South Australia with a median price of $69,500, followed by Mallee in Victoria ($70,000), Mersey Lyell in Tasmania ($78,000), and the South East and Northern regions of South Australia ($85,000).