Bob Hand shares his insight on the current residential land market and the available stock of titled land.
I find it quite remarkable how the residential land market has changed in the past 18 months. Back then we had a steady stream of purchasers visiting our land sales offices wanting titled land or land about to be titled so they could almost immediately activate their builders to create their new home or investment property. Back then there was no titled land available, and it was a matter of paying a deposit and buying off the plan and waiting up to 18 months for construction to complete and titles to be issued.
In the current landscape of higher interest rates and increased land and home prices most buyers visiting our land sales offices are wanting to buy off the plan now so they can save more towards their required deposits.
As the housing crisis continues to worsen there will be a growing market from investors wanting to re enter the market and get housing stock in the field to rent out, they won’t want to be waiting 18 months. These investors will be seeking titled land. If you work in the building industry or in the investment sales industry and want access to our titled land stock, please send us your details and we will add you to our weekly titled land EDM, this goes out to the industry every Saturday. If you have land you would like to sell, please reach out and we will be happy to assist you.
