[Australia Property] Price per square foot of private land in Melbourne rises 2% monthly

As one of the most livable cities in the world, Melbourne, Australia, attracts many people to emigrate every year.

As the local purchase of land to build houses is quite common, and buyers can enjoy freehold ownership, housing demand continues to expand, which naturally drives up land prices.

In the past 10 years, land prices in Melbourne have soared more than three times.

As a result, the land inventory in the region was quickly consumed. The supply fell 42% compared to the same period last year, causing the price of private land per square foot to increase by 2%* to a median price of approximately Australian dollars $321,300.

Given that the authorities are very strict in approving residential land, it is estimated that the land supply in Melbourne in the next two or three years will be much lower than in the past three years.

The market expects that land prices will continue to rise, especially in the western region.

Among them, house prices in Wyndham Vale have increased by 55% in the past five years, outperforming the Melbourne market.

The local government expects that by 2036, the population will multiply and the demand for the property market will continue unabated.

The Australian regional analysis agency idcommunity predicts that the population will continue to rise sharply in the next 20 years, with a sharp increase of 88%, and future housing demand will increase accordingly.

Benefited from population movements and overseas capital inflows, Melbourne property prices have continued to rise in recent years, and the more affordable West End is the darling of buyers.

The population of the Western District has doubled in the past 20 years, and it is expected that the upward trend will continue in the future.

According to a report by the Department of Environment, Land, Water and Planning in Australia, the population of several areas in western Melbourne will double by 2036, and may even surpass Melbourne's city centre, as well as inner urban areas such as Southbank, South Melbourne and Docklands.

The "Melbourne 2030 Sustainable Development Plan" has planned an area of ​​775 hectares (equivalent to 5 times the sum of the city center and Docklands) in the West End into a super urban area, providing 58,300 job opportunities.

As housing demand is expected to continue to grow, the real estate market in the region is very hot.

Among them, Wyndham Vale is regarded as the “top real estate investment hotspot in Australia”. The median land price rose from A$200,000 to A$310,000 between 2015 and 2018, an increase of 55%.

Melbourne's West End is actively building construction to meet the peak of population growth.

In addition to housing and infrastructure, there will also be the first private indoor water park in Australia in the area.

Over 2,000-square-foot 3-bedroom house with freehold land for the first phase as low as HK$240,000

In fact, in addition to enjoying freehold ownership and the appreciation potential of the land, purchasing land and building houses in Australia can also save stamp duty.

Since stamp duty only counts the cost of the land, and the cost involved in building the house is not included, it helps to reduce the stamp duty of buyers.

Purchasing land and building houses also means that buyers can choose different basic plans of builders and fine-tune them according to their personal preferences and needs.

If necessary in the future, the owners can also choose to demolish and rebuild the building without paying land premiums.

In the hot Wyndham Vale area in western Melbourne, a brand new single house with land has just been launched.

Australia’s largest real estate agent, Ray White, brought you a brand new single house with freehold land Jubilee in the area. The first phase is only HK$240,000*, and the price per square foot is as low as HK$1,655*.

The project is located near the railway station, and it only takes 4 stations to reach the city center. It is the first housing estate in Australia with a private water park.

In this modern planned community, education, childcare, shopping, food and other supporting facilities are readily available.

The project provides 3-bedroom single-storey units or double-storey villas with a floor area of ​​more than 2,000 square feet, with garages and front and rear gardens.

Buyers can choose from a number of basic building plans (see the picture below) and make adjustments to meet personal preferences.

Whether you prefer a simple and elegant style, or a gorgeous and noble style, there is always a choice that suits your heart.

Buyers of Jubilee detached houses can enjoy freehold ownership of more than 4,000 square feet of land, as well as a 5% rental guarantee* limited to overseas.

The land price where the project is located has risen by an average of 11.5% per year in the past four years, and buyers can enjoy the potential for land, property prices and rent appreciation at the same time.

The project will hold a property trade fair and investment seminar this weekend. At that time, senior Australian property surveyor Sir Liu will analyze the potential of private land investment in Australia and share successful cases of Hong Kong people, helping everyone to start the railway at a price as low as HK$450 per square foot* Buy land and build houses along the line to enjoy the appreciation potential.

The Jubilee project is a detached house with spacious interior space, and residents can freely design furniture placement.

Melbourne, Australia Single House with Land Trade Fair and Lecture

Date: August 28 and 29 (Saturday, Sunday) 11 am to 7 pm

Venue: Third Floor, Marco Polo Gateway Hotel, Tsim Sha Tsui

Private land investment seminar

Hours: Daily 14:30

Tel: 23761088

Welcome to register in advance or make an appointment for

inquiries and appointments. Click here: https://bit.ly/3sG1GBE

(Information and photos provided by the customer)

^Investment involves risks

* Subject to relevant terms and conditions.

All selling prices and data are for the date of printing.

It depends on the type of unit and the sales situation.

The information provided by the seller of this property project does not constitute any promise or contract.

The introduction and other property information are provided by information sources that our company believes to be credible. Buyers are not advised to rely too much on the above information. They need to personally verify the accuracy and credibility of the information.

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We specialize in acting for overseas properties outside Hong Kong, so we are not restricted by the Estate Agents Ordinance of Hong Kong properties.