A tiny patch of dirt is causing a big stir, with buyers being asked to stump up $349,000 for what’s believed to be one of the smallest blocks of land currently for sale anywhere in Australia.
The 120sqm vacant lot in Cockburn Central, in WA, is about the size of half a tennis court, and has become the latest sign of just how extreme the nation’s housing affordability crunch has become.
It is the last block left in the development at Chiffon Lane and Corduroy Road, but it is not its location that is turning heads.
It is the size.
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At just 120sqm, the block takes up about the same space as a single bowling lane or a third of a basketball court.
Despite that, offers start at $349,000, equating to roughly $2900 per square metre.
The eye-watering price has left locals stunned.
“No, I wouldn’t pay that. You’d have to go five to six storeys high,” one man said.
Another local said: “That’s ridiculous, because then you’ve got to put a house on it. What’s the point? You can’t do anything on it.”
A 120sqm block in Perth’s south is drawing attention for both its tiny footprint and hefty asking price, with offers starting at $349,000 for what’s believed to be one of the smallest parcels of land currently on the market in Australia.
The vacant lot in Cockburn Central spans about the size of half a tennis court, a third of a basketball court or a single bowling lane.
A third commented: “Make it a park given the entire suburb doesn’t have a single tree after the land was cleared.”
Still, industry figures say the block is likely to find a buyer in a market where budget land is increasingly rare.
Real Estate Institute of WA president Suzanne Brown said blocks of this size were not unusual in denser markets.
The lot has a price guide of $349,000.
Locals have been left scratching their heads.
“If you think about properties in other states of Australia, and internationally, this block size is quite common,” she told Nine News.
“This type of block will probably see a two-bedroom, two-bathroom, townhouse-style home.”
The listing underlines how little affordable land remains across Perth.
Only a small number of metropolitan blocks have sold for less than $350,000 over the past six months.
The suburbs to record at least one lot under that mark were Lakelands, Rockingham, Balga, Baldivis and Beeliar.
Most were under 240sqm, while one block sold in Yanchep measured 330sqm.
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