Land Sales Activity
Over the last three years the Ripley Valley land market has been buoyant.
Throughout this time period the median vacant land price has remained relatively stable reaching $181,000 in 2015–2016. However, importantly the $/sqm paid for land has increased substantially, up 19.50% to $436/sqm.
During this time period the median lot area has also decreased by 17.18% to 424sqm, which has assisted in keeping the median vacant land price stable at an affordable level. Sales rates have also increased substantially over the three years, rising from 2.25/month in 2013–2014 and peaking at 28.5/month in 2014–2015. It should be noted that whilst sales rates have decreased to 22.5/month in 2015–2016 this reduction is considered to be more as a result of a lack of supply rather than a shift in demand.
In addition recent releases within the Ripley Valley, has seen a further increase in prices, whilst a new trend has also emerged with the release of some larger lots, which has reportedly been well received by buyers.
Buyer Origin Profile
During the 12 months to June 2016, the majority of purchasers of land within the Ripley Valley, were from Queensland. More specifically 78.23% of purchasers were Queensland based, with 15.87% being from New South Wales.