Melbourne new land market – outlook remains positive.
The December 2016 survey period is coming to a close. The Christmas period means that the quarter cuts off early. The production of new land across the 165 active land estates remains robust. With close to 4,000 new lots released to date this quarter, the final production total will come close to the September total. If production over the closing 2 weeks of December remains on trend, then land sale volumes for the quarter should average between 1,500 and 1,800 lots per month.
Melbourne new land market cycle coming off a peak. The Melbourne Greenfield land market has been operating at record levels for 18 months. It is estimated that the the market has now absorbed any unmet demand from previous periods. This will mean that the land market will move back toward expected levels underlying demand over the coming months. Melbourne new land market cycle coming off a peak.