As housing remains high on the state’s political agenda, the property industry says the issue is not simply about “land banking”.
Ipswich, Logan and Moreton Bay council areas have the highest numbers of lots listed as closing stock.Queensland’s Urban Development Institute of Australia chief executive Kirsty Chessher-Brown said closing stock data was “one of the best available metrics relating to lot and land supply”.
“In some instances, it can take more than 15 years to bring the first stage of a master-planned community to life, from land acquisition,” Chessher-Brown said. Nicole Bennetts, Queensland’s manager of the Planning Institute of Australia, said completing the residential lots needed to be prioritised.“Instead, a range of other factors like financing, labour shortages and increased construction costs are impacting developers’ ability to bring projects to market.”PRD Realty chief economist Dr Diaswati Mardiasmo said getting more “closing stock” land to market should be given immediate attention.
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