A Message from Max Shifman, UDIA National President
The flagship “State of the Land” report released today by the Urban Development Industry of Australia (UDIA) highlights the unprecedented levels of demand for new greenfield land, with a record breaking 76,100 lots sold across the combined capital cities in 2021, an increase of 33% over the previous year.
The frenetic performance of the national greenfield sector has been a critical component of Australia’s strong economic performance through the pandemic. 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. Failing to do so, and quickly, will impede the economic recovery and further impact housing affordability.
Prepared in close partnership with CoreLogic and Research4, the report shows that the COVID period over the last few years has continued to surprise and confound expectations. This is underscored by the unprecedented level of market demand for greenfield lots and new detached housing evidenced across the second half of 2020 and most of 2021.
The relentless drain on our declining housing supply has brought us to a defining moment, either governments commit to supply boosting initiatives now or accept a deep and prolonged affordability crisis in three years.
Download a Summary of Headline Statistics from State of the Land 2022.
State of the Land 2022 Major Sponsor:
State of the Land 2022 Supporting Sponsor:
