Honey, I shrunk the block - to 171sq m

Settlers Hills estate, Baldivis Source: The Sunday Times

THE mini-lot has well and truly arrived, slicing the size of the once-considered modest cottage lot in half.

Blocks starting from 171sq m are part of a new land release in popular Baldivis this week, showing developers are well into the trend of launching smaller lots.

Cottage lots in Perth have been known to vary between 250-350sq m.

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The $112,250 block at Stockland's Settlers Hills estate works out to about $656 a square metre.

The median block size in the Perth metropolitan area is 450sq m.

Stockland WA general manager Col Dutton said affordability remained the No.1 issue for homebuyers – and with first homebuyers in particular.

''We've been working closely with our builder partners to come up with highly affordable new home sites and innovative new designs at Settlers Hills,'' Mr Dutton said.

''I expect these affordable low-maintenance lots will particularly appeal to younger buyers and downsizers who want the convenience of living within easy reach of shops and restaurants,'' Mr Dutton said.

Block sizes have been shrinking in Perth for more than a decade, Urban Development Institute of Australia statistics show.

The median block size in 2003 was 690sq m at a cost of $96,000.

This shrank to 538sq m for $255,000 in 2008 and is now 450sq m for $239,000.

But the cost per square metre of a median block has risen from $139 to $531.

And developers are keen to go smaller.

Developer Nick Perrignon recommended to the industry for block sizes to go as small as 75sq m to combat affordability concerns, according to the UDIA WA's blog.

Twenty-seven per cent of lots given subdivision approval in the last financial year were smaller than 320sq m, up from 16 per cent in 2007-08.

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