Figures released by the Western Australian government show lot sizes for metropolitan Perth are at a record low.
Data from the Department of Planning, Lands and Heritage reveals new building lot sizes for the metropolitanarea have shrunk to 367 square metres.
This means the north western region of Perth has overtaken other regions to have the largest median new lot size, at 383 square metres as of the June 2018 quarter.
As a comparison, the north eastern region has a median lot size of 337 square metres.
Project director for Capricorn Beach Estate in Yanchep and Atlantis Beach Estate in Two Rocks, Jarrod Rendell said the north west coastal region in particular has seen a rise in popularity over other Perth regions due in part to affordable areas and improved infrastructure.
“This affordability factor is underlined that micro lots as small as 80 square metres are now being developed in the more inland suburbs of Perth as developers try to reduce the selling prices of house and land packages by shrinking lot sizes,” Mr Rendell said.
“Yanchep and Two Rocks are proving very popular with buyers due to major new transport infrastructure in the area that will significantly cut commuting time to the city centre such as the planned $220 million freeway extension to Romeo Road and the committed $440 million new rail link to Yanchep.”
Blaine Hall-Jones, estate manager at Atlantis Beach Estate added that lots of 450 square metres and larger are proving to be popular with young families.
“The reality is that today, buyers are doing extensive research before buying a lot and the size of the lot, price per square metre and its location are now key factors in their decision making,” Mr Hall-Jones said.