Land Price Increase

We had a look at the price per square metre as per each estate that we are interested in around the Penrith area. It seems that Lot 523 in Mulgoa Rise is the cheapest. We were advised that this could be because it is a corner lot and corners are often priced lower. This is evident in the pricing we received back in 7th of March 2014 which lists a few lots still available in release 5A in the estate 

• Lot 516 (not corner) 
• Area - 504 sqm
• Price - $365k 
• $/sqm - 724 
• Lot 517 (corner) 
• Area - 616 sqm 
• Price - $395k
• $/sqm - 641
• Lot 523 (corner - the lot we are looking at) 
• Area - 551 sqm
• Price - $373 
• $/sqm - 677 

The other thing I noticed was the price growth. Within 1 month and a week, the price has gone up by $6k. I inquired about flexibility in pricing and was given none as they had not had any negotiations for the last 18 months. The only flexibility they could offer was the time frame for our $1k deposit to keep it off the market while we search for a builder. Seeing as we are approaching the Easter break, they had let us have a couple of extra days past the Easter holiday to let them know if we are releasing the land or staying on it. 

As far as our options go, we have the following: 

• Stay on lot 523 and find a builder and take the corner lot hit (wife is ok with corner but I am not too happy about it as I have to do the mowing :( ) 
• Release lot 523 and see about the other Adenbrook package and the schedule for land settlement. If we can get our funds together before the land settles, we can save cash from stamp duty and get a house with a layout that we already like. Here's to hoping that our meeting with Adenbrook today will amount to something worthwhile. 
• Release lot 523 and wait: Obviously with the land price growth, this will also cost us as time passes by. 

Another post most likely at the end of today.