What DA-approved development sites sell for in Australia

In 2026 DA-approved sites have traded at roughly $100,000 to $130,000 per approved apartment in inner Brisbane and Melbourne, about $310,000 per dwelling in Sydney's inner west, $135,000 per approved townhouse in outer Brisbane, $32,000 to $54,000 per approved childcare place in Sydney, and $850 to $2,200 per m2 for industrial land. The approval's yield sets the price.

A development approval turns a block of land into a counted product: so many apartments, townhouses, lots or childcare places. Buyers then price the site on that count, not on the dirt. That is why a 3,846 m2 block in Stones Corner fetched $23.2 million while a 20,240 m2 block in Joyner fetched $10.1 million: one carries 226 approved apartments, the other 74 townhouses. The figures below are drawn from 2026 agency releases, sold listings and Knight Frank land value tables. They are indicative market data for sizing a purchase, not a valuation.

What DA-approved sites sold for in 2026

Here are the sales and listings we could verify with a location, an approval and a price. Rates per unit are the price divided by the approved count, before any credit for residual land or existing income on the site.

Two things stand out. First, the per-unit rate falls as density rises: 226 apartments on one Brisbane block cost $102,500 each, 74 townhouses on two hectares cost $136,500 each, and 362 englobo lots cost $276,000 each because each lot becomes a whole house. Second, Sydney inner-ring approvals carry two to three times the per-unit rate of Brisbane or Melbourne because the end sale prices are higher. Note the Thornleigh childcare comp is from 2022 and sat well above the 2025 Western Sydney sales, which is the location gap you would expect between the upper north shore and Penrith.

Price per approved unit by city and approval type

Grouping the evidence above with Knight Frank's Q1 and Q2 2026 industrial land tables gives these working bands. Use them to sanity check an asking price, then run the residual.

Industrial sites are the one category where the zoning does most of the work and a DA adds less, because a warehouse on a serviced E4 or Industrial 1 lot is close to permitted as of right. The Huntingwood result, $2,167 per m2 with no DA and 33 bidders, shows what scarce serviced land in Sydney does on its own. Knight Frank's Q1 2026 review records east coast industrial land values up 46% to 131% over five years, and Perth small lots up 14.4% year on year.

What a DA actually adds to a site's price

Getting the approval costs comparatively little. Feasly's 2026 guide puts total DA costs at $25,000 to $60,000 for a 6 to 12 unit residential scheme and $40,000 to $150,000 or more for commercial projects, with council fees of $500 to $5,000, a town planner at $2,000 to $15,000 and architectural documentation at $5,000 to $30,000. The real cost is time: NSW councils average 70 to 250 days against a 40 day statutory clock, Victoria about 155 days, Queensland and Western Australia four to nine months.

What the buyer pays for is the removal of that time and planning risk. Colliers' Jordan McConnell, who sold the Western Sydney childcare sites, put it plainly: approval gives operators certainty and speed to market, which is why premiums are paid for quality sites. Ray White reported 85 formal enquiries on the Joyner townhouse site and named its shovel-ready status as the main driver. Colliers said permit-approved projects of the Alma Road scale are difficult to secure in inner Melbourne.

The premium is not a fixed percentage on raw land. Valuers and lenders price an approved site by residual land value: end value of the approved scheme, less construction cost, less profit and risk margin, less finance and selling costs. Capital Property Funds gives the cautionary example of land worth $100 as is, $200 as if complete, with $150 of build cost, leaving a residual closer to $50. An approval for a scheme that does not stack up can be worth less than the unapproved land. That is why the per-unit rates above vary so much: the Burwood approval at $310,000 per dwelling only makes sense because inner west Sydney apartments sell for far more than Stones Corner apartments do.

• Approvals for saleable product in short supply (townhouses near Brisbane, mid-rise near Melbourne activity centres) attract the strongest bidding.
• Approvals with heavy conditions, unresolved contributions or a design the market has moved past trade at a discount, and buyers often re-lodge.
• An approval close to lapsing is worth less than a fresh one unless work can start quickly, which is the next section.

How long an approval lasts, by state

The clock on an approval is part of the price. A site with 18 months left on a five-year consent needs a buyer who can commence, or an extension, before settlement plus documentation eats the balance.

Ask for the consent notice and the date it took effect before you price a site, and check for a construction certificate or operational works approval already in hand, as at the Moorebank townhouse site marketed with the CC imminent. Lenders ask the same question, because a lapsed approval collapses the residual.

What it costs to hold a site while it sits

The number that quietly kills site deals is the monthly cost of doing nothing. Feasly puts holding costs on a small residential site at $3,500 to $5,000 a month including interest, rates, insurance and maintenance. On a serious site the interest line dominates. A worked example on a $5 million approved site:

• Land bank facility at 55% LVR, $2.75 million, at 11% p.a. (non-bank and private land loans run about 9% to 13% p.a.): about $302,500 a year, or $25,200 a month.
• NSW land tax on $5 million of land value: $100 plus 1.6% above the $1,075,000 general threshold, about $62,900 a year; above the $6,571,000 premium threshold the rate steps to 2%.
• Council rates, insurance and site security on top, plus establishment fees of 1.5% to 3% on the facility.

That is roughly $365,000 a year, or about 7% of the site price, before a single drawing is lodged. Twelve months of delay on a $10 million site at 60% LVR is around $600,000 in interest alone. Two state rules change the picture in 2026. Victoria's general land tax threshold is $50,000 with the COVID debt levy on top, and vacant residential land tax at 1% to 3% of capital improved value now applies to long-term undeveloped Melbourne land from 1 January 2026. Queensland's company and trust threshold is $350,000 of taxable value, so almost every development entity pays.

If the holding period is unavoidable, structure the debt for it: interest-only, interest capitalised where the LVR allows, and a term that outlasts your realistic start date. Read our caveat loans guide for the short bridging end of that market, and property-backed business loans for how equity in other property can carry a site.

Financing a site purchase and land bank

Site acquisition is lent against the land, and the lender type sets the leverage. Banks lend roughly 60% to 65% of valuation on a site with a DA at around bank bill plus 3% to 5%, take 6 to 12 weeks, and want an experienced developer with a bankable exit. Non-bank lenders lend 65% to 75% on approved sites and 50% to 70% on raw or englobo land at about 9% to 13% p.a., with 1.5% to 3% establishment and 6 to 24 month terms. Private lenders reach similar levels on the asset alone, often with a term sheet in 24 to 48 hours; private lending is typically business-purpose and not consumer regulated. A land bank facility for a site still in planning sits around 50% to 55% LVR, interest-only or capitalised.

The cleanest structure rolls the land facility into a construction facility with the same lender once approval, builder contract and presales are in place: bank construction debt at 60% to 65% of cost, non-bank 65% to 75%, private up to 80% at a price, with banks wanting 60% to 100% presale cover and private lenders 0% to 40%. Mezzanine or preferred equity fills the gap above senior debt, and uplift on a bank valuation after approval can be released as equity for the next site. Finance is subject to lender assessment. See also commercial property finance and property finance.

To get a number from Ventas, send the contract, the consent notice and its date, the approved plans and yield, a feasibility with a QS estimate, the buying entity, your equity and any other property you hold. We come back with the lender types that fit, the LVR each will lend to and the monthly holding cost, usually within a day. See development finance for how Ventas structures the whole stack.

This is general information only and not financial, credit, or tax advice. Figures are indicative market data from the sources listed, not Ventas offers, and move with the market. Consider your own circumstances and speak to a professional. All finance is subject to lender assessment and approval.

This article is general information only and not financial, credit, or tax advice. Ventas Asset Lending is a finance broker, not a lender. Approvals are subject to lender assessment. Consider your own circumstances and speak to a qualified professional, including your accountant for any tax questions.