How much extra would you pay for a corner block?

Let's assume two properties were being sold side by side and were identical. Both had potential to be subdivided, but the corner block has the added benefit of having separate driveways.

How much extra, as a percentage, do you think a corner block is worth?

For example, if the non-cornered block was selling for $350K, do you think 10% extra for the corner block would be a reasonable ask, say $385k?

What do you think?
 
I dont think so.

are you looking at it from a buyers or sellers point of view?

as a buyer it would be more important for the numbers to stack up. i.e. the realized equity after the subdivide.

IMO separate driveways would not give a hell of a lot more appeal than joint. in most cases you could have separate driveway on a block that is not on a corner anyway
 
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I guess the appeal of a corner block (and the reason I bought one) is the potential to subdivide a property without having to demolish the existing house provided the backyard is big enough.
 
There are very few "dumb grannies" out there now. Anyone selling has a pretty good idea of the redevelopment potential of their properties.

There are no 1012 s/m corner blocks going cheap here.
 
The price would depend on the shape and size of the land.

If you had 2 identical blocks both with 18m frontage and both 40M deep
the owner of the corner block would have the ability to subdivide into 2 blocks, wide enough for a good construction.

The owner of the other 18M wide block would be limited to narrow blocks and would either have to subdivide into 2x9m wide blocks or 1x 13M wide block plus 1 battleaxe block.

From the buyers point of view the latest 2 are not very attractive options
so you would have to drop the selling price by 20% compared to the corner block.

I would expect the corner block to sell for considerably more than the non corner block and this is usually reflected in the advertised price.
 
My latest purchase was a 1010sqm ( 20 by 50) corner block. There was a lot of interest in it due to the 400 Sqm block available to the back with it's own street frontage. Plus the self contained granny flat gave it a great yield too. For this reason I had to offer a good price. A similar sized block nearby but a none corner has struggled to sell. It has a similar yield to.so in my area I would say corners will achieve higher prices
 
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