+19% - 4%

The demand for regional change continues to surpass pre-Covid levels, although its intensity relies heavily on the availability of appropriate land lots in different regions. The primary factors affecting this demand are the price and size of the lots, which are slightly smaller than traditional ones.

Local buyers, often priced out of the established property market, are compelled to relocate due to the scarcity of suitable lots. The introduction of smaller lots and townhomes offers a promising opportunity for budget-conscious buyers to enter the market.

It’s also crucial not to overlook the significance of providing lifestyle homes beyond the western growth front. The current landscape shows a notable imbalance; with a significant 82% of available stock concentrated in the western region.

The latest data suggests that while market activity is on the uptick it remains relatively restrained with the current interest rate landscape expected to persist until mid-2024. On the other hand, strong employment rates and increasing wages are empowering serious buyers with the means to provide a deposit, placing them in a favourable position to negotiate attractive deals.