I took this picture last week (click on thumbnail for a larger image) to give you an idea of the size of some of the plots of land that you can pick up here in the Northern Suburbs of Perth.
This latest land release is in a place called Burns Beach which is approx a 40 minute drive north of the Perth CBD.
I think its fair to say that the size of the plots is nothing to write home about. I remember before we came out here that we looked forward to buying a nice big plot of land somewhere near the coast and plonking our house in the middle.
Unfortunately in Perth, It just doesn’t work like this any longer (I think I wouldn’t be wrong in saying that its not really been like that for the last 3 – 5 years or so).
The plots you see in the picture are between 400 – 600 Sqm in size. Burns beach is a pretty nice spot as some of these plots will have potential views of the ocean but for the privelage your paying a premium.
These plots of land are starting at over $500k with the larger plots touching the $1 Million mark. Thats £200 -£400,000+ just for a bit of soil.
Add on top of this the cost of building a house and you’re not going to be left with much change.
The problem stems from the fact that the Western Australian Goverment are not releasing the land quick enough and like most things. Anything in short supply is going to cost a premium.
Although the govenment is being encourage to release more land, I don’t think this is going to happen any time soon.
In the meantime I think when we do look to buying our own home, we’ll be looking at buying somewhere that’s already been built.
After my post the other week about the Australian Exchange Rate things appeared to have been settling down during the last few days with the rate heading back in the right direction.
Note to self – Must pull my bloody finger out 8)