Need for more housing outlined by State of the Land report
The Urban Development Institute of Australia (UDIA) recently released the 2015 State of the Land report, which has highlighted a historic boom in land sales across some of the country's biggest cities. And the resulting figures have outlined the general nature of the nation's housing industry, which could be illuminating for buyers considering real estate in Burpengary.
Using figures from the latest National Land Survey Program, the report found that the number of lots released in the data sample was 50,150 in 2014 – an increase of 30.8 per cent over the 38,350 seen in 2013. This is not just a large leap upwards, but it is also the highest level seen in years.
UDIA national president Cameron Shephard said the lift in lots being released was great for the development and construction industry, as well as new home buyers looking to buy or build a property. However, the need for more government intervention was highlighted to continue stimulating this effect.
"Whilst low interest rates and strong market conditions have helped to create the current uplift in new lots released, these conditions won't last forever," said Mr Shephard in a 17 March statement.
The underlying barriers in the industry were highlighted as something to be removed or adjusted, in order to keep the country on top of growing housing demand.