From HomeBuilder to hangover: where will housing development land?
The perfect pandemic storm has resulted in surging demand for housing, and greenfield land developers are riding the wave. However, challenges lie ahead.
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The COVID-19 housing demand, boosted by government stimulus for new housing, by low interest rates, and by changing housing preferences, has been an absolute boon for the nation’s greenfield land developers.
The question is whether the surge in demand, which includes a substantial pull-forward of future activity, can outlast the end of the Commonwealth government’s HomeBuilder stimulus, and the lowest population growth in 100 years.
Beyond that question are broader issues. How does the greenfield development industry meet the post-COVID challenges of productivity, sustainability and affordability?
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