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{{propApi.successMessage}} {{region}} Change locationConstrained land supply sees knock-down rebuild market grow
Constrained land supply sees knock-down rebuild market grow
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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 the March Quarter 2022, median lot prices increased by 19.7 per cent. This is not a normal increase – it is the strongest annual growth rate since 2004.
“Constrained supply of land will limit housing activity in Greenfield areas from mid-2023 onwards.”
“New data released by the ABS on demolitions suggests that knock-down rebuilds and small redevelopments are around 25 per cent of the market for house and townhouse builders in New South Wales. Encouragingly, this segment of the market appears to be growing rapidly, creating new opportunities for the industry,” added Mr Ward
According to CoreLogic Economist Kaytlin Ezzy: “The scarcity of available residential land continues to be a driving factor across Australian land markets, with land prices surging at a time when the number of lots sold is declining. While increasing interest rates, rising construction costs and increased uncertainty, particularly across the building industry, has likely smothered some land demand, the surge in land prices suggests that those that want to build are finding it difficult to secure lots.”
“With land often taking more than a decade to move though the development pipeline, it’s unlikely we’ll see any material change in land supply for some time.” says Ms Ezzy.
Victorian Government completes Cabinet reshuffle
The Victorian Premier, Jacinta Allan, has completed a Cabinet reshuffle following the resignation of the long serving Treasurer, Tim Pallas.
Funding for crisis housing important to housing mix
“Today’s announcement of a $1 billion investment towards crisis, temporary accommodation and transitional housing forms an important part of the housing mix and recognises the need for targeted measures to support increasing supply of all forms of housing,” stated Jocelyn Martin, HIA Managing Director.
North QLD Annual Regional Meeting of Members
Notice of Annual Regional Meeting of Members of North Queensland Region
SafeWork NSW focusing on mental health in construction
Over the coming months, SafeWork NSW inspectors will be speaking with principal contractors, site supervisors and health and safety representative (HSRs) to ensure they have effective systems in place to manage psychosocial hazards and risks.