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Land prices are heading up. The price of block of land increased nationally by 1.1 per cent in the September quarter.The most expensive market for land is Sydney with the median price for a housing block now $255,000. The cheapest market is Mallee in Victoria with a median price of $70,000, acording to HIA-rpdata.com's Residential Land Report."The challenge now is to ensure that land price appreciation does not get out of control the way it so clearly did in the last up-cycle, eroding housing affordability to a disproportionate extent along the way," said HIA chief economist Harley Dale."There are already concerns that this problem may develop again through 2010 and this remains the critical issue for policy makers to address."Dale said it was encouraging to see Australia's volume of land sales trending higher.
