Perth Officially Has The Cheapest Housing Blocks In The Country

In spite of a 6% increase to the median lot price in 2022, Perth is officially the most affordable capital city in Australia to buy a block of land.

The news comes as part of the Urban Development Institute of Australia’s 2023 State of the Land Report, which was revealed yesterday as part of the Institute’s National Congress.

This marks the first time in a decade that Perth has overtaken Adelaide in terms of land affordability, with a 2022 median lot price of $228,000 or $607 per sqm.

Every other capital city experienced double digit growth to median lot prices, with the ACT’s land price growing a huge 44% to $1,325 per sqm – the most expensive in the country.

While Perth is the cheapest, our median lot sizes are also the smallest, coming in at 375sqm for the seventh consecutive year.

To read the full report, head to the UDIA website.