Lot Prices

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A top executive of one of Australia’s biggest home builders has warned of a growing land affordability crisis in Sydney.
Chief executive of MJH Group Andrew Helmers said while the cost of construction was rising at between 6-9% per annum, lot prices were rising at annual rates of 40-50%.
"We don't have a housing affordability crisis, we have a land affordability crisis,” Helmers told Fairfax Media.
"All the major tier one developers are continuing to lift their prices with each new land release. The slowdown in prices in Sydney has not been felt in the land market."
He said MJH completed 2716 housing starts in the 2017 financial year up from 2199 in fiscal 2016 making it the fastest-growing builder in the country.
The company builds homes in NSW, Queensland, the ACT and Tasmania under a number of brands including McDonald Jones, MOJO Homes, Wilson Homes and Hayman Homes.
He noted building product manufacturers were operating at 100% capacity.
The Newcastle-based company recently reported a big boost in revenue it accounts filed with the corporate regulator for the year to June.
They show that MJH Group – previously called McDonald Jones Homes – saw revenue up 48% to $621 million from home building and land sales.
Its after-tax profits were up 55% to around $16 million.
The company sold a 40% stake to Japan's Asahi Kasei Homes in August.
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Sydney lot prices rising 40-50% annually: MJH Group 

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The cheapest median regional building lot price for the March quarter is in the southern region of Tasmania with a price of $82,500.
The Murray Lands region in South Australia followed with a median of $84,000 and East Gippsland in Victoria next with a median lot price of $88,000, according to the HIA-CoreLogic RP Data Residential Land Report
<a href="/images/2015/07/20/700_least.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/20/700_least.jpg" alt="">
For the top regional market lot prices in the March 2015 quarter, click <a href="/expert-insights/buying/44222-northern-nsw-tops-regional-median-lot-prices-hia" target="_blank">here</a>.
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Southern Tasmanian March building lot median at $82,500: HIA 

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The top three most expensive regional markets for median building lot prices in Australia during the March quarter are in New South Wales, Queensland and Western Australia.
The highest median lot price is in the Richmond-Tweed area of NSW at $280,000, the Kimberley in WA next at $270,000 and QLD's Sunshine Coast with $254,000, according to the HIA-CoreLogic RP Data Residential Land Report.
CoreLogic RP Data research director Tim Lawless said a current trend towards fewer land sales has been evident since mid-2013 and is visible across each of the capital city vacant land markets. 
<a href="/images/2015/07/20/Screen%20Shot%202015-07-20%20at%201.57.46%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/20/Screen%20Shot%202015-07-20%20at%201.57.46%20PM.png" alt="" width="907" height="526">
 
For the lowest March 2015 regional median lot prices, click <a href="/expert-insights/buying/44223-southern-tasmanian-march-lot-median-at-82-000-hia" target="_blank">here</a>.
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