New Build

A Corio landowner is seeking developers to capitalise on a growing residential building boom in the suburb with a site suited to townhouses or a medical centre.

The country’s largest home builder expects lower interest rates will drive demand next year and warns customers not to wait for costs to come back down.

New data shows the average price of a block of land in the region was up 11 per cent in the three months, as buyers adapt to higher interest rates and competition heats up for limited stock.

Increased hurdles in getting approvals are driving up construction costs, which threatens the viability of affordable housing, despite a further easing in building materials costs.

Whatever stripe of government gets into power, the property industry is crying out for a longer term plan that can help more Australians into homes.

Big home builders warn that thee crunch from higher levies and taxes are adding to costs and choking new supply.

The housing estate developer is confident it can navigate challenging construction conditions as green shoots begin to appear in the market.

We need to stop thinking about building more houses and instead get on with manufacturing them, because technological advances mean that they can be mass produced to meet demand.

Slower builds and cost blowouts will be the biggest challenges of 2024 for the construction sector, says Hutchinson Builders director Jack Hutchinson, as data shows a pick-up in the amount of work ahead.