Victoria needs millions of new homes. Here’s where they will be built
It's a bit of a joke.
Along with other developers we are all hesitant to build given the interest rate environment, rising construction costs and lack of labour, grouping of land taxes affecting cash flow, combined with new energy efficiency ratings, plus an increase of 40-60% in insurance costs.
Most guys I know are just finishing up and that's it. We have lots of sites with plans approved, but will most likely sell them. Most of these sites would not be suitable by themselves as a PPR.
Remember only small scale developers do townhouse lots of 4-8 or less. Any bigger you go mid tier and apartment blocks etc all go with larger developers who are falling like flies as they cannot find the trades to tender for these jobs as they are often much less lucrative than smaller builds.
So I'm very interested to find out what exactly the government thinks is going to happen after hammering down on developers with red tape for decades and lately smashing out the land taxes especially on vacant land whilst we have been waiting for planning to go through?
Seems market is ripe for flat-pack or modular prefab houses.