In a surprising turn of events, a 120sqm block of land in Cockburn Central is up for grabs at a staggering $349,000. This tiny plot, equivalent to the size of six parking bays or a single bowling lane, is a stark reminder of Perth's escalating affordability crisis. With a price tag of $2900 per sqm, it's a challenge to find a more affordable option in the metropolitan area.
The article highlights that this is a rare find, as relatively few blocks in Perth have sold for under $350,000 in the past six months. The suburbs with such affordable lots include Lakelands, Rockingham, Balga, Baldivis, and Beeliar, with most of these lots measuring less than 240sqm. This trend is a stark contrast to the past, where a quarter-acre block was the standard in Perth. In 2006, the average lot size at new estates was 550sqm, but by mid-2016, it had dropped to 390sqm, and now it's even smaller at 380sqm.
The author expresses a personal perspective, stating that while older generations might find these lots tiny, they are far from the smallest on offer. The record goes to some 80sqm micro lots in Ellenbrook, launched in 2018. This raises a deeper question about the changing dynamics of land ownership and the impact of affordability on housing choices in Perth.
The article also mentions a proposed $38 million hotel project on a vacant site on Perth's highway, showcasing the city's diverse development landscape. Additionally, it highlights the popularity of the Harry Potter trail in Kalamunda, attracting VIP wizards and witches, adding a touch of whimsy to the real estate market.
In conclusion, the tiny Cockburn lot is a fascinating example of the affordability crisis in Perth, prompting a deeper exploration of housing trends and the challenges faced by prospective homeowners. The article encourages readers to reflect on the changing nature of land ownership and the implications for the future of housing in the region.
