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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.
ABC report highlights need for Tasmania to join Help to Buy
Housing Industry Association (HIA) is calling on the Tasmanian Government to adopt the Commonwealth’s Help to Buy scheme, following today’s ABC report highlighting experiences with the state’s MyHome shared equity program.
HIA urges bipartisan support for Victoria's planning reforms
“The Victorian government and Victorian Opposition need to put their differences aside and work together to get planning reforms through parliament next week if they are serious about addressing Victoria’s housing shortages” stated HIA Executive Director, Keith Ryan.
Federal Government confirms funding for Territory apprentices during visit to Darwin
“The Housing Industry Association (HIA) is pleased to welcome Minister Andrew Giles to the HIA NT Skills Centre in Darwin, providing an opportunity to showcase the Northern Territory’s training pipeline and discuss the continued challenges facing the local residential building industry,” HIA Executive Director Northern Territory, Luis Espinoza, said today.
Housing Australia launches Round 3 funding
The Federal Government, through Housing Australia, has announced a third round of funding, in support of its commitment to the building of 1.2 million homes over the next 5 years.