Despite the land allotments in Melbourne being small, prices are at the nation’s highest. This is a good thing for land owners and investors as their properties remain a valuable asset. http://www.icpm.com.au

1. Small Land Allotments in Melbourne a Bonus for Investors and Owners
As a property owner it’s important to know your property will not decrease in value too
much, if at all. Not only is a well valued property a good asset to have on your list, it’s good
for when it comes time to rent or sell. Obviously a property that is of high value will attract
a better sales figure and higher rental fees, but another possibility is that it will continue to
increase in value. Naturally owning property anywhere in this beautiful country is a bonus
however there are some parts that boast higher values than others.
When smaller is not a bad thing.
Melbourne is a wonderful place to live and despite the reports that it has the smallest
allotments in the country, it is very popular. Owners of real estate Williams Landing will
be very pleased with the current real estate prices as well. Colin Keane, the director for the
National Land Survey Program found that although Melbourne has the smallest allotments in
the nation it hasn’t decreased the value of the properties. Lots available in Sydney are 165
square meters larger than the median lot size of 448 square meters available in Melbourne;
however Melbourne still beats Sydney hands down in its land being more valuable. 35 lots of
every 100 new ones placed on the market are less than 400 square meters whereas only
just three short years ago the proportion was 10 out of every 100.
Smaller land allotments a good thing for owners.
Originally the purpose of making the allotment sizes in Melbourne smaller was to reduce the
cost of land. The expected outcome did not occur much to the landowners benefit.
Melbourne is drawing high property values with all its might and boasts the highest in the
country. New land currently averages at $496 per square meter and the percentage of lots
that can be found at a price under $200,000 is 27%, a close record low. This means real
estate Point Cook landowners can expect a considerable sum should they sell but this
situation has also has opened up the need for even smaller lots. This is good news for
buyers looking to start at the base level of the market as lots sized less than 290 square
meters are available for a lower priced $175,000 and available as house and land packages
starting from $350,000.
If you are looking to invest in real estate Altona or any Melbourne suburb now is the time.
With market prices the way they are and the increased demand for housing it is likely your
land value can only increase.
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