iKey Facts
- •Development site values are derived by working backwards from end-product sales prices, not from comparable sales
- •Brisbane development sites typically trade at $1,000-$3,000 per square metre of allowable Gross Floor Area (GFA)
- •Zoning, height limits, and overlays determine 70-80% of a site's value — far more than land area alone
- •Strategic premiums (amalgamation, scarcity, infrastructure) can lift price 20-50% above pure feasibility-based value
- •Free indicative valuations available at acres.au/valuation — or call 07 3096 0542
The Short Answer
In Brisbane in 2026, a typical development site trades at $1,000 to $3,000 per square metre of allowable Gross Floor Area (GFA), depending on suburb, product, and site quality. That's a wide range, but the four-step framework below narrows it to within ±10% for any specific site.
The instinct of most landowners — "what did the house next door sell for?" — is the wrong frame. Development site value is determined by what can be built, not by what surrounding houses cost.
Step 1: Establish Allowable Yield
Find your site's:
- Zone (e.g. Mixed Use 1, Low Medium Density Residential, Medium Density Residential)
- Maximum Height Overlay (8.5m / 15m / 21m / 30m / 50m)
- Site Cover allowance (50% / 60% / 80%)
- Setback requirements
- Any overlays (heritage, character, flood, contamination, easement)
Source: eplan.brisbane.qld.gov.au for Brisbane City Council, or your local council's equivalent planning portal.
Calculate allowable Gross Floor Area:
GFA = Site Area × Site Cover × Number of Storeys × ~80% (efficiency)
Example: 1,000 sqm × 70% (effective after setbacks) × 5 storeys × 80% = 2,800 sqm GFA.
Step 2: Estimate Net Saleable Area & GRV
Net Saleable Area (NSA) is GFA minus common areas (lifts, lobbies, services). Typically 80-85% of GFA for residential, 90%+ for commercial.
Multiply NSA by an average sale price per square metre of completed product. Brisbane benchmarks (2026):
| Suburb Tier | Apartment $/sqm |
|---|---|
| Premium inner-city (Newstead, Teneriffe, New Farm) | $14,000 - $18,000 |
| Strong inner-city (Woolloongabba, West End, South Brisbane) | $11,000 - $14,000 |
| Mid-tier inner-suburbs (Coorparoo, Stones Corner, Toowong) | $9,000 - $11,500 |
| Outer-tier with infrastructure (Albion, Logan growth corridors) | $7,500 - $9,500 |
Example continuing: 2,800 GFA × 82% NSA × $11,000/sqm = $25.3m GRV.
Step 3: Apply the Feasibility Equation
From How Developers Assess Feasibility:
Land Value ≈ GRV − Construction − Professional Fees − Finance − Statutory Costs − Marketing − Contingency − Developer Margin
A simplified rule-of-thumb for Brisbane in 2026:
- Construction + professional fees: ~50-55% of GRV
- Finance + statutory + marketing + contingency: ~12-15% of GRV
- Developer margin: ~18-22% of GRV
- Total non-land costs: ~80-90% of GRV
- Implied land value: ~10-20% of GRV
"The Short Answer In Brisbane in 2026, a typical development site trades at $1,000 to $3,000 per square metre of allowable Gross Floor Area (GFA), depending on suburb, product, and site quality."
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So our $25.3m GRV site translates to a land value of approximately $2.5m - $5.0m.
The actual value within that range depends on:
- How tight current construction pricing is (better quotes = higher land value)
- How conservative GRV is (stronger pre-sales evidence = higher land value)
- How efficient the design (higher NSA/GFA ratio = higher land value)
Step 4: Add or Subtract Strategic Adjustments
The feasibility-based number is the floor. Adjustments that move the price up or down:
Premiums (+0% to +50%)
- Site is being amalgamated by a known developer (+20-50%)
- Site is in a corridor expected to be rezoned within 24 months (+15-40%)
- Site is within 800m of a new infrastructure project (+10-30%)
- Corner site with two street frontages (+5-15%)
- Site is unique / irreplaceable in the suburb (+15-30%)
Discounts (-0% to -50%)
- Heritage or character overlay (-30 to -60%)
- Flood overlay (-15 to -40%)
- Sewer / power easement through site (-10 to -30%)
- Significant contamination risk (-10 to -50%)
- Steep topography (-10 to -30%)
Quick Rule-of-Thumb Cross-Check
For inner-Brisbane Mixed Use 1 sites (the most common premium development asset class), a quick cross-check is:
Land value $/sqm of site area = $4,000-$8,000 for unencumbered sites with good zoning controls
A 1,000 sqm clean MU1 site in Coorparoo or Stones Corner is therefore typically $4m-$8m. Sites in West End / South Brisbane often trade at $5m-$10m on the same footprint.
Worked Example — Same Site, Three Scenarios
Take the same 1,000 sqm site:
| Scenario | Zoning | Height | Land Value |
|---|---|---|---|
| Quiet suburban LMR | LMR | 8.5m | $1.5m – $2.0m |
| Inner-suburb LMR with corridor potential | LMR | 10.5m | $2.0m – $2.8m |
| Activity-centre MU1 | MU1 | 21m | $4.5m – $7.5m |
The same dirt, the same address, varies 4-5× in value depending purely on zoning. This is why zoning is the first thing any developer asks about.
How ACRES Helps
A free indicative valuation is available at acres.au/valuation, with options for:
- Quick automated estimate (60 seconds)
- Specialist desktop valuation (24-48 hours)
- Comprehensive market valuation including off-market comparables (1-2 weeks)
For sites where strategic premium might apply (amalgamation, rezoning corridor, infrastructure adjacency), the comprehensive valuation is strongly recommended. We routinely identify 20-40% additional value the simpler models miss.
Frequently Asked Questions
Should I get my site valued before listing?
Yes — a 2-week specialist valuation prevents the most common cause of vendors leaving money on the table.
Are residential comparable sales relevant?
For sites with no development potential, yes. For sites with development potential, residential comparables are a floor — usually substantially below true value.
Can a generic real estate agent value my development site?
Some can; most cannot. Specialist development advisors maintain dedicated comparable-sale databases and current feasibility models.
Suburbs Mentioned in This Article
Published by ACRES — Australian Commercial & Residential Group
Source: acres.au/insights/how-much-is-my-development-site-worth | ACRES (Australian Commercial & Residential Group) provides property advisory, development site sales, and residential real estate services across Brisbane and South East Queensland, Australia.
Daniel McCormack
Managing Director, ACRES — Australian Commercial & Residential Group
