More, cheaper land will need to be found if the Government wants to build one million new homes over five years, the housing industry said this week.
The latest HIA-CoreLogic Residential Land Report Land shows that residential land prices increased over the year to the June Quarter 2022 by 15.4%, the fastest rate of annual growth since 2004.
CoreLogic Economist Kaytlin Ezzy warned that until there is a noticeable change in supply, median land prices will likely remain elevated.
