The West Australian
Perth has officially ended its reign as the cheapest place for land in the country, with the median lot price jumping by more than a third last year.
New data from the Urban Development Institute shows Perth’s new land prices soared 34 per cent over 2024 to $329,000. Despite the big spike, annual lot sales were up 23 per cent.
The new price means Adelaide is now the most affordable capital city in Australia, with a median lot price of $307,000.
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