Residential communities - Melbourne's growth area land market
FOR the first time on record it is likely that the median cost of land will eclipse the median construction cost of the home in last quarter of 2010.
The metropolitan Melbourne growth area median land price has rocketed into the $200,000's, settling at $212,750, up 14% over the quarter and 24% over the last 12 months.1
In some markets, such as the City of Wyndham and the City of Casey the median land price now exceeds $230,000.
- Written by Andrew Perkins