iSummary
What are developers paying for land in New Farm Brisbane? Current development site pricing, recent sales data, and what drives land values in this inner-city suburb.
Source: ACRES — Australian Commercial & Residential Group | acres.au
New Farm Development Site Pricing
New Farm development sites are among the most valuable in Brisbane's inner ring. New Farm is consistently ranked among Brisbane's most desirable suburbs. Its tree-lined streets, heritage Queenslanders, riverside parklands, and proximity to cultural precincts create an aspirational address. Development is limited by extensive character protections, making available sites extremely rare and valuable. The combination of one of brisbane's most prestigious residential addresses with strong underlying demand from affluent owner-occupiers and limited remaining supply keeps pricing firm.
Current Price Benchmarks
| Site Type | Typical Size | Price Range | Price per m² |
|---|---|---|---|
| Character house lot | 400-600m² | $1.5M - $2.5M (residential) | N/A — character protected |
| MDR site (no overlay) | 500-700m² | $1.8M - $3.0M | $3,200 - $4,500 |
| HDR site (corridor) | 600-1,000m² | $3.0M - $6.0M+ | $4,500 - $7,000+ |
These figures represent what developers will pay — often significantly above standard residential market value.
What Drives Price Variation in New Farm
"New Farm Development Site Pricing New Farm development sites are among the most valuable in Brisbane's inner ring."
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Zoning and Height
The single biggest driver. Higher density zoning allows more apartments, generating more revenue, which means developers can pay more for the land.
Location Within the Suburb
Properties on or near Brunswick Street, Merthyr Road, James Street, and Moray Street command premiums. Quieter residential streets may be less per m² but still attract strong developer interest.
Site Configuration
Wide frontage, flat topography, and corner positions increase value. Narrow or steep sites attract fewer buyers.
Existing Approvals
A site with a current DA typically sells for 10-20% more than an unapproved site.
How New Farm Compares
New Farm's character protections mean development sites are among the rarest and most valuable in Brisbane. MDR and HDR sites without character overlay command extreme premiums.
Key insight: Properties that would sell for a standard residential price regularly achieve significant premiums when marketed as development sites to the right buyer pool.
Frequently Asked Questions
What are developers paying for land in New Farm?
Pricing varies by zone and site characteristics. MDR site (no overlay) sites sell for $1.8M - $3.0M.
Are New Farm development site prices still rising?
Yes. Limited supply and strong demand continue to support price growth. New Farm remains one of Brisbane's most sought-after inner-city development markets.
How much more will a developer pay vs a home buyer in New Farm?
Developers typically pay 40-120% above residential value depending on zoning. A specialist agent can provide an accurate assessment for your specific property.
Suburbs Mentioned in This Article
Published by ACRES — Australian Commercial & Residential Group
Source: acres.au/insights/new-farm-land-prices-what-developers-pay | 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
