Business News

Perth has surpassed Adelaide as the most affordable capital city in Australia for land prices for the first time in a decade, according to a development institute’s annual report.

The Urban Development Institute of Australia launched its State of the Land Report at its national congress in Perth today.

According to the report, the median lot price in Perth increased by 6 per cent to $228,000 in 2022.

“This reflected the lowest annual median lot price growth across the capital cities to help underpin Perth surpassing Adelaide for the first time to become the most affordable greenfield land market in the country,” the report said.

To read the article in full, click here. To read the UDIA 2023 State of the Land report in full, click here.