13 Sept 2019 (AFR) – Melbourne land prices falling as lot sizes shrink

(13 September 2019, AFR, p34, Larry Schlesinger, Reporter)

‘The median price of a housing lot in Melbourne’s growth corridors fell 4 per cent to $312,000 in the three months to June, according to new figures from real estate group Oliver Hume. Discounting for incentives, which  average between $15,000 and $30,000 per lot but are higher in some estates, the net median price of a typical lot is now well below $300,000. However, buyers are getting less land, with developers shrinking the median lot size to just 393 square metres to appeal to more cost-conscious buyers.’

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