News 
 Local News 
 News 
 General 
 Strong demand for Molonglo blocks 

Strong demand for Molonglo blocks

29 Jul, 2010 01:00 AM
More than 250 blocks of land have been sold in the new Molonglo suburb of Wright for $96million.

The largest block of 988sqm sold for $567,000 and the average block price was $365,040.

At the last ballot for land, 49 blocks were purchased for a total of $17.887million.

Colliers International, which is selling the land on behalf of the Land Development Agency, will offer 71 more blocks at a final ballot for the first stage of Wright on August7.

Colliers general manager, residential land marketing, Shane Radnell said as the number of blocks on offer dwindled, people's choices and preferences diminished as well.

''Some people will think they were not drawn early enough to get the block of their choice and will wait until the next release.''

Mr Radnell expected a total clearance of land in the first stage.

''There is certainly still strong interest for the blocks, and we expect that for the next release as well,'' he said.

Mr Radnell said the new estate had a great diversity in block sizes.

''They are not all massive and, importantly, they are not all tiny, compact blocks either.

''There's a good spread of blocks that are in the 330sqm range all the way up to 980-odd square metres, with the majority of them around the 450 to 600sqm mark, which is a pretty good sized block these days.''

For more, pick up a copy of today's Canberra Times

Print
Increase Text Size
Decrease Text Size

comments


Date: Newest first | Oldest first
330sqm? Where are we? Hong Kong? If you live in Gungahlin you drive past sheep and cows on your way to work, so land shortage my astrolab.....
Posted by Ivan, 29/07/2010 10:44:23 AM, on The Canberra Times
Another example of a propety market out of control being driven by excessive population growth.
Posted by Greg, 29/07/2010 11:02:20 AM, on The Canberra Times
Don't complain about the 330 sq m blocks - at least they are single dwelling blocks. The really high density will come from the multi-dwelling blocks in Molonglo: four storey apartment blocks covering a bigger area than Kingston and Manuka's combined! I hope that some bushland will be preserved for the poor residents.
Posted by Ghetto, 29/07/2010 3:52:05 PM, on The Canberra Times
strong demand? bollocks. 49 blocks were sold out of 263 at the ballot? and why? because they were horrendously overpriced? $365000 for a 400 sqaure meter block! crazy
Posted by dveloper spin, 29/07/2010 8:21:59 PM, on The Canberra Times

post a comment


Screen name  *
Email address  *
Remember me?
Comment  *
 
We invite and encourage our readers to post comments. Comments are moderated and will appear as soon as our editor has approved them. When posting comments you agree to be bound by our Terms and Conditions.

Most popular articles

Australian Running Festival

Feb Best Buys


The Canberra Times







Weather brought to you by:

Weatherzone

Classifieds

Front Page

Current Issue
Privacy Policy | Conditions of Use | Advertising Terms | Copyright © 2012. Fairfax Media.
 SEND...
 SAVE...
 SHARE...