A new block of land has popped up in the middle of Regents Park, where the easiest way to find a site to build on has been to either to knock down an existing home or sub-divide.
A 500 sqm block of 10A Ixora Court is one example of an increasingly popular trend, which sees homeowners converting and selling off wasted garden space.
The asking price is upwards of $349,000 for the land.
Selling agent Lauren Molijn, LJ Hooker Browns Plains, said sub-divisions are proving a popular option for homeowners wanting a return on underutilised space on modest-sized blocks.
Ms Molijn said sub-divided blocks go quickly.
“I am trying to get through about 40 enquiries here, so I’m just struggling to get through them,” she said.
“There’s so little vacant land – that’s a real key thing as well.”
She said most of the blocks being sub-divided in the area do not go lower than 500 sqm, however, they do in new commercial sub-divisions.
10A Ixora Court has a high level of privacy because it is positioned behind two homes at the end of a cul de sac.
The existing driveway to the original home has been upgraded to accommodate the new addition with a new concrete easement.
A new fence has also been built to separate the existing home from the driveway, adding to the privacy.
