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{{propApi.successMessage}} {{region}} Change locationScarcity of residential land sees prices surge
Scarcity of residential land sees prices surge
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The HIA-CoreLogic Residential Land Report provides updated information on sales activity in 51 housing markets across Australia, including the six state capital cities.
“Over the year to September 2021, the median price of land in Australia increased by 12.6 per cent. This is the strongest annual increase since 2006,” added Ms Lillicrap.
“In Greater Sydney alone, the median price of residential land increased by 32.2 per cent over the year to September 2021.
“The median price of land in the combined greater capital cities increased by 14.7 per cent over the year to September 2021 compared to an increase of 8.6 per cent in the combined regional areas. This suggests that the shortage of residential land is more severe in the capital cities.
“Land will be the biggest constraint on building activity over the next couple of years. The current shortage of land will impact the industry at a time when the broader economy needs construction to help pull it forward,” concluded Ms Lillicrap.
According to Tim Lawless, CoreLogic’s Head of Research: “Considering the record level of detached house approvals at the peak of HomeBuilder together with the constraints involved with bringing newly subdivided land online quickly, the surge in land prices over the quarter is hardly a surprise.
“What is more counter intuitive is the trend towards fewer land sales through 2021, a pattern that is evident across each of the state capitals despite strong demand. Softer volumes are more a reflection of short supply rather than a lack of demand, which helps to explain the sharp rise in land values at a time when the volume of land sales is reducing,” says Mr Lawless.
For more information please contact:
Victorian Government small sites pilot program
The state government has established the Small Sites Pilot Program to unlock government land for housing development.
Strongest home sales for 3 years
“Sales of new detached homes increased by 18.8 per cent in the three months to June 2025 compared to the previous three months,” stated HIA Chief Economist, Tim Reardon.
NT approvals reform a step in the right direction
“The Housing Industry Association has welcomed the Northern Territory Government’s commitment to streamlining the Territory’s planning and building approval system,” HIA Executive Director NT, Luis Espinoza said today.
New Housing Pattern Book is a step in the right direction
“HIA welcomes the release of the new NSW Housing Pattern Book, which is another tool that could help make the delivery of new housing in NSW easier,” said Brad Armitage, HIA NSW Executive Director.