Purchasers are paying a lot more for vacant land and getting a lot less for their money in Australia's cities, although prices in regional markets have fallen.

Vacant land selling prices have continued to rise in the capital cities, increasing by six per cent in the 2014/15 year, CoreLogic RP Data says. In regional markets land prices fell by 3.4 per cent. CoreLogic RP Data senior research analyst Cameron Kusher said median land prices in regional areas…