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An age-old dilemma: location vs. price

Despite a slow period in the Sydney market over the past two years, a block in Bondi has shown that quality always grows as it fetched a remarkable price.And there is no doubt that when looking to invest, price should not be the first consideration, as location and value should always come first.

When a patch of dirt in Bondi one fifth the size of a normal building block lands $3.5 million at auction, three words come to mind - location, location, location. Then there are the plots of land for sale on the moon (for those who share hopes of permanently inhabiting the planet by 2015), starting at A$21.42.

While a small town in South Australia may not sound as appealing as Bondi's beachfront or the Moon, it has price tags that are set to draw a crowd.

The remote wheat belt town of Wudinna (around 500km to the west of Adelaide) has three 1km2 blocks of land each selling for $1.

As the lots must be built on within 12 months, the sales could prove a clever way to boost the town's population (currently around 1400 people). Anyone interested has until the end of the week to apply to the council.

- property, growth

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