Minimum Land Size

Hi All,

Just wanted to get your thoughts on land size when looking at purchasing property - is there a minimum that you look for? Or it will it depend on the location? Just trying to understand the optimal land size when determining my purchases.

Any guidance would be appreciated

thanks!

 

900m is great.

More than 600 definitely.

In Melbourne smaller again is probably practical ( not sure )

 

Very very location and budget dependant. I've bought sub 200sqm lots less than 2km from city and 10,000sqm lots 40km from the vity.

 

I wouldn't say there is a set land size you should target as this depends on the goal of the purchase. If you are wanting to focus on growth then I would focus on demand. I personally like properties on blocks over 600m2, though, this is because it aligns with my strategy/goals.

 

specify your area (LGA), your future intention, budget etc. Otherwise hard to tell.

Buy 5 acres and subdivided in future or buy 700sqm and build duplex,

 

Thank you all for your responses
I’m looking for capital growth, but still serviceable with yield (4-5%) - open to any location! Ideally under $650K

I’ve just bought a property in Greater Springfield region QLD that was on 600m2 and a relatively good sized single storey house (26squares) for under $550K.

My PPOR is actually on 600m2 in Sydney (hills district, newer estates) and I think I have an unconscious bias now of having that as a minimum when looking at buying regardless of which capital city.

But now I’m looking for my second investment purchase and thinking if I should broaden my search and not shut out properties that are on land less than 600m2

hope that provides a little more context for the post

 

i dont know where i read ir but i always aim 800m2 plot. and thats my default. always remember its land that is valueable. larger land = more cap gain.

 

In Vic there's restrictions if you go below 300sqm, so I'd say absolute minimum 600sqm if you're looking at future development.

 

Land size is increasingly shrinking as density pressures are applied to developers by councils and state govts. In some areas a "small" lot of under 400ms is considered the norm where other areas its 800m. You really want something that meets with the charecter of the area and the need of renters.

 

There is no hard and fast rule.
I have two terraces each on 139 square metres that should sell for over $3 million in Newtown this year. I have been renting them out for $1,600-$1,800 per week for the 3 years since I bought them at half that price.
So it is a matter of personal preference and dependent on the area you are buying. 600 square metres inner city could be worth $6 million without a property on it.