It’s a phenomenon that always makes headlines, neighbours coming together to sell their properties, as a “super lot”, for double, triple or even quadruple the price of others in the street. A LJ Hooker Research Consumer White Paper on the growth of amalgamated selling delivers insight into this trend.
Chief amongst the reasons cited for ‘super lots’ is the rezoning by councils of residential, commercial, industrial and rural land to allow higher density development.
However, the key areas where amalgamation is taking place are not necessarily the outer ring of capital cities. Much of the reasoning is more to do with economic rationalisation in the middle-ring and inner-city suburbs. The key reasons it is growing in popularity are:
- With the rising demand for homes, state and territory governments have released more land for residential use on the outskirts of capital cities and major regional centres.
- Increased cost of providing infrastructure, to these new housing areas, has seen authorities push for increased higher-density development close to existing infrastructure.
- This has, in turn, led to the rezoning of land, in middle-ring and inner-city suburbs, from single houses to medium and high density residential use.
Photo credit: John-Morgan via Visual hunt / CC BY
