December Quarter 2010 - Western Australian Planning Commission

Department of Planning – December Quarter 2010
Lot median and lower quartile sale price
Figure 5
Vacant residential median and lower quartile lot sale prices
Scope
Vacant lots of all
sizes with residential
zoning
Excludes multi-lot,
related party and
institutional sales
Price ($)
300,000
250,000
Source
Valuer General's
database, Landgate
(as at 7 December
2010)
200,000
Note
Date of sale is the
contract date
recorded in the
database after
settlement. Recent
quarters especially
the last two quarters
incomplete due to
this lag
150,000
100,000
50,000
0
Dec-
05
Mar-
06
Jun-
06
Sep-
06
Dec-
06
Mar-
07
Jun-
07
Sep-
07
Dec-
07
Mar-
08
Jun-
08
Sep-
08
Dec-
08
Mar-
09
Jun-
09
Sep-
09
Dec-
09
Mar-
10
Jun-
10
Sep-
10
Dec-
10
Low er Quartile - Metro/Peel
Low er Quartile - Rest of WA
Median - Metro/Peel
Median - Rest of WA
Note: Metro/Peel includes the Perth Metropolitan Region plus the City of Mandurah and the Shire of Murray in the Peel Region.
Source: Valuer General’s database, Valuation Services, Landgate. Data for December 2008 to December 2010 updated on 24 February 2011.
Table 5
Residential lot prices ($) – annual summary and quarterly comparison
Dec Qtr
2005
Dec Qtr
2006
Dec Qtr
2007
Dec Qtr
2008
Dec Qtr
2009
Dec Qtr
2010
Metro/Peel 1 Median 160,000 250,000 264,000 220,000 235,000 245,344
Lower quartile 135,000 206,000 220,500 195,000 181,500 185,000
Rest of WA
Median 125,300 167,500 180,000 150,000 165,000 170,000
Lower quartile 90,000 128,000 137,000 130,000 135,000 129,750
Total WA
Median 152,000 231,000 250,000 215,000 220,000 223,687
Lower quartile 126,000 173,000 199,000 180,000 170,000 168,000
Note:
Source:
1. Metro/Peel includes the Perth Metropolitan Region plus the City of Mandurah and the Shire of Murray in the Peel Region.
2. Date of sale is the contract date recorded in the database after settlement. Recent quarters are incomplete due to this lag.
Valuer General’s database, Valuation Services.
The graph above illustrates the median and lower quartile vacant lot sale prices. Median prices in both
the Metro/Peel Region and the remainder of the State have displayed a slight upward trend since
early/mid 2009 after a year of decline, with country WA lagging approximately a period behind
Perth/Peel. The preliminary median vacant lot sales prices in the Metro/Peel Region and Rest of WA
were reported as $245,344 and $170,000, respectively, for the December 2010 quarter. The lower
quartile price has followed a fairly flat trajectory in both Perth/Peel and country WA. This has been
occurring for approximately two years in country WA, while in Perth/Peel it has come after a period of
downward trend from December 2007.
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