Property Forecasting > Report
Falling house prices in the Melbourne residential market are impacting demand for land as land values also decline. Lower land prices will place pressure on settlement of lots that have been pre-sold, with many expected to be returned to the market, placing further downward pressure on prices, and causing developers to offer increased incentives. New lot releases are being held back in response to the weaker demand and lot production is forecast to fall through to 2020/21, after which strong population growth is forecast to see the market tighten, causing price growth to return and demand for land to accelerate.
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