Land sales eased in most Australian capital cities in the second quarter of the year, new figures have revealed, which could interest those seeking to invest in property in Australia.
The latest residential land report from the Housing Industry Association (HIA) and rpdata.com revealed that the weighted median residential land value for Australia decreased by 3.6 per cent in the quarter.
However, compared to the same three months of last year, it was up by two per cent.
Sydney is still the most expensive residential land market in the country, the report revealed.
The Sunshine Coast in Queensland is the second most expensive, followed by the Gold Coast, New South Wales' Richmond Tweed and Perth.
Those seeking the most affordable land market in Australia should head to the Mallee region of Victoria, followed by the Murray Lands and south-east regions of South Australia.
Last month, the Real Estate Institute of Australia's Deposit Power Housing Affordability Report revealed that the Australian Capital Territory is the most affordable area of the country in which to own a home.
Posted by Craig Francis
