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    South Australia still boasts the most affordable land prices in the country

    Published on 28 February 2019, Thursday, 12:19 AM

    The most recent figures released by the Housing Industry Association confirm that South Australia remains one of the least expensive areas for land purchases in the country, with Yorke and the Lower North region seen to have the most affordable areas.

    HIA's RP Data Residential Land Report showed a widespread rise in land prices throughout the country, although this increase was likely buoyed by South Australia, where the lowest median lot price came in at $80,000.

    "Five out of the state’s six regional areas are among the nation’s ten least expensive residential land markets," said HIA Executive Director for South Australia Robert Harding. "Clearly regional South Australia has an affordability advantage over other regional areas interstate."

    This report was released alongside another industry snapshot provided by HIA, which showed that slow growth in land sales could lead to a slump in the home building recovery. Since bottoming out in 2011, residential land sales have struggled to rise, with a modest 4.3 per cent increase in the March quarter.

    "The March quarter update signals we are moving in the right direction, but as a key leading indicator land sales suggest the magnitude of a first stage new home building recovery will fall short of what the economy requires," the group noted in an official release.

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    Nathan Mills
    Nathan is a seasoned Kennards Hire team member passionate about empowering DIYers in their projects. He loves everything DIY and brings together years of equipment and project experience to help customers get the right tools for their next job.