Unlock Equity in Land!

The recent skyrocketing of Perth’s house prices is a well known fact but, in the background, land prices have been escalating as well without the fanfare.

Unless you have been researching new build house and land packages, you may have missed this fact: the increase in the average price of lots has outstripped the Perth median house price increase for the same year-on-year period of October 2023 to October 2024.

According to the Urban Development Institute of Australia WA, the average price of land lots sold in the Perth metropolitan region increased 36.5 per cent while REIWA reported median house prices increased 22.2 per cent over that same period.

Summit Realty general manager and licensee Brock Gurr is keen for owners to understand how much their parcel of land or individual lot may have increased in value in recent years.

“Developers are struggling to keep up with demand for new housing while the cost to bring greenfield land to market has increased significantly, resulting in land prices finally increasing after remaining stagnant for a long time,” he said.

“This has raised the value of land for everyone, meaning individual block or hobby farm owners can now benefit by unlocking that equity.

“As part of the Summit Homes Group, we have the expertise and connections to develop parcels of land, subdivide and build through our Developments arm, or build a new Easystart, New GenHomes or Summit Homes property to either retain as a landlord managed by the Summit Realty property management team or sell through us to realise a profit.”

The founding company of the Summit Homes Group, Rockingham Park, has been responsible for several well known estates in the Rockingham area, including Harrington Waters, Heritage Park, Parkland Heights and, most recently, Woodlands Baldivis.

Mr Gurr has sold land for Rockingham Park and is currently selling infill blocks in Harrington Waters at Waikiki.

“Ranging from $540 to $610 per square metre, just 12 to 18 months ago these would have been sitting on my books,” he said. “After launching last month, we have only a couple remaining.”

The blocks remaining from the latest release at premium estate Parkland Heights in Baldivis have values over $702 per square metre, with a top price of $380,000 for a 510sqm block.

Woodlands Baldivis, which backs on to Kwinana Freeway, has blocks from $587 up to $840 per square metre or $315,000 up to $365,000.

“You can see from these values that you could potentially be sitting on a land goldmine, and I encourage you to consider either selling through us or using our services to develop,” Mr Gurr said.

As well as helping you unlock profit by selling or developing land, Summit Realty can also facilitate the building of a granny flat or tiny home to set up as an investment property through the Summit Homes Group.

“With our proximity to the coast and wealth of amenities and services, the City of Rockingham is popular for both short and long-term rentals, and we can provide building and management proposals to show you how quickly you could turn a profit and set up a recurring income,” Mr Gurr said.

For more information, call Mr Gurr on 0417 972 876 to discuss how Summit Realty can help you best realise the value you have in your land.

As published in The Sound Telegraph on Wednesday 12th December 2024.

To discuss any of the opportunities outlined in this article contact Brock Gurr on 0417 972 876.