Property

Issue No. 49 - October/November 2009

Property lead UDIA demand`

South Australia’s declining number of residential allotments will put further pressure on land prices and affordability, the latest land survey released by the Urban Development Institute of Australia (UDIA) (SA) has revealed.

For the UDIA (SA) Land Survey June 2009 developers reported a 9% drop in the number of residential allotments in the SA market at 30 June compared with six months earlier.

UDIA (SA) President Ian Marker says developers expect to supply almost 6800 urban fringe allotments in SA over the next 12 months, the survey indicated, compared with six months ago where 8800 were predicted for the following year.

Ian says fewer allotments were been brought to market in SA than in the previous year and even fewer (about 20% less) were predicted for the following two years.

“The ‘shortened pipeline of land’, which has seen land brought forward for development, is likely to result in a shortage against expected consumer demand,” Ian says.

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