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something had to give.. for a while there it was cheaper to buy a new house than buy the block and build it. in fact in many places this is still the case but i can see land prices retreating rapidly. in a normal market it is a dog of a product. people thought it was all too easy buying a block...

i think those churchlands ones will sell like hot cakes. it is the outer suburban vacant blocks where the cheap deals are to be had... flippers left holding the ball that just want out.

the boat pen crisis is not unlike the land shortage crisis... too many govt depts and red tape preventing the release of more pens in places like the swan. this restricted supply is pushing up prices: their value has gone thru the roof. mandurah marina is about to have a big release, also...

the 2 tier market seems to be alive and well, multi million $ properties in dunsborough and eagle bay are selling straight away cash unconditional, inner city doing well too. I am seeing a slow down in the construction belt tho... all the spec homes in the outer burbs are slow to sell.

I think (and know of a few) the speculators that have picked up blocks at say $100 to $180k, with market values late last year of $320k, have thought they will just dump them at $260 to $280k, still make a fat profit and move on. I think it is good for everyone. unit sites arent showing much...