Local: Wed
Sydney: Wed
Select Destination
Location Time Temp
Sydney Wed25°
Melbourne Wed18°
Brisbane Wed33°
Perth Wed24°
Adelaide Wed
Hobart Wed15°
Canberra Wed27°
Darwin Wed31°

news

Get our help FREE advice or find service providers with our bookJobs Now

Sydney land worth $1.34 trillion

08 January 2016 by News Desk

sydney03The value of residential land in Sydney, Australia increased by an average of 10% in 2015.

In parts of the city, land prices have soared by 47%. Across the State, the total value of land is now $1.34 trillion. And that’s just the value of the land, and does not include the value of property built on the land.

According to new official figures from the New South Wales Valuer-General the biggest increases have been seen in the west of Sydney with the fastest increase in Blacktown where the average value of a residential plot rose by 47% in 2015.

Land values also surged in Parramatta (up 36%) and Holroyd (38%). Values increased by more than 30% in Fairfield, Auburn, Canada Bay, the Hills Shire and Randwick.

The most valuable land is concentrated in the inner north and east of Sydney. The average residential land value in Mosman – not including value of the house – is now almost $1.6m. In Woollahra it is ($1.57m), Waverley ($1.41m) and Hunters Hill ($1.36m).

Demand has been strongest for residential land in areas near good public transport facilities.



We use cookies on Thinking Australia

This website uses cookies to ensure you get the best experience on our website. Please confirm permission to use cookies.
Cookie Policy Privacy policy