Rockhampton blocks get chopped as buyers prefer less land
ROCKHAMPTON property investors are downsizing to blocks almost half the standard size.
The Herron Todd White monthly review for April focused on new developments in Norman Gardens where lots were being produced around 400 sq m.
The dimensions are a contrast to the standard block size for the area of between 700 to 1000 sq m.
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Prices for the blocks start from approximately $160,000 and range up to $200,000.
The review indicated the move was largely targeted at investors, but also attracted local buyers who wanted "less land to look after".
Brian Geaney, of LJ Hooker Rockhampton, said the move was more likely attributed to cost than upkeep.
"A smaller block is cheaper than a larger block; it all comes down to what's affordable if you want to own a house," he said.
"The cheaper something is, the easier it is for everybody to enter the market.
"It's an idea with local government and state government, to have maximum planning.
"It will be something that will be everywhere, not just Rockhampton... the days of the big blocks will get scarce."
Mr Geaney said moves to downsize on land were common in large cities but in areas like Rockhampton people usually still wanted yard space.
He said owners of smaller blocks had downsized their area but not their vision.
"They have gone down in lot size, but not in house size," he said.
"People are still wanting to squeeze a four-bedroom home into a 400m2 block... they should be looking at a smaller home on a smaller block."
Mr Geaney said the emergence of smaller blocks would be seen more frequently as more subdivisions were introduced to the region.