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Smaller lots a boon for property prices
27 Aug 2007
A report has recommended that rural councils in NSW be allowed to adjust minimum lot sizes for country properties. Up until a few years ago farming properties could be divided into 40 hectare lots but this was changed when the Department of Primary Industries increased the size, in some cases to as much as 400 hectares. Subdivisions can help to attract more people to a district and help retiring land owners who want to maximise the value of their properties. If the recommendations are adopted, values of farm land could increase by 20 to 30 per cent.
Financial Review, 27/08/2007
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