UDIA’s State of the Land report found capital city vacant lot sales rose 33 per cent to a record 76,100 in 2021, leaving shovel-ready land supply at just weeks in Sydney, Melbourne and south-east Queensland. National president Maxwell Shifman urged governments to act to bring development-ready supply online quickly.
As I told Sourceable: “The frenetic performance of the national greenfield sector has been a critical component of Australia’s strong economic performance through the pandemic,”
I also said: “While this has been great news for market confidence and strengthened a housing-led economic recovery, it is also a warning for Governments for the need to act now to ensure development-ready supply is brought online.”
And I added: “Failing to do so, and quickly, will impede the economic recovery and further impact housing affordability.”
Sourceable, 11 March 2022 — Read the full article