PRODAP RESIDENTIAL LAND AND PACKAGED HOUSING MARKET REPORT JUNE QUARTER 2007
(SAMPLE ANALYSIS ONLY)
Vacant Land Market Update
Quarterly Summary - Vacant Land
Sales for the June 2007 quarter in vacant land lots totalled 626, which represents almost
a 24% decrease over the previous quarter, but is a similar result to the June 2006 quarter
(618).
Total stock levels of vacant land have reduced to 700 for the June 2007 quarter, which is very tight at only three months supply and can only result in price increases. This pressure valve will be partially released with the launch of Marina Quays at Hope Island in September.
Forecast production in the next 12 months sits at 4,368, up 6% from the March 2007 quarter and up 15% from the March 2006 quarter. The release of this stock is highly anticipated and will give a more accurate indication of market demand.
| Product | Total Sales for this Quarter |
Total Stock Available for Sale |
Total Expect to Release in Next 12 Months |
| Res "A" and Integrated Housing Lots |
|||
| Dry | 538 | 576 | 3,923 |
| Wet | 88 | 124 | 445 |
| Grand Total | 626 | 700 | 4368 |
Residential Vacant Land Market
VACANT LAND SALES plummetted by 24% in the June quarter, caused by limitations in developer stock rather than demand, we would suggest.
As mentioned on page 8, a number of larger
projects have chronic stock shortages, which
are abnormal, hence lower sales have been
recorded. Furthermore, the largest project to
be released on the Gold Coast in decades,
Marina Quays, has delayed its release of 240
lots until the September quarter.
Projects with the highest number of sales in
the quarter were Coomera Springs (73),
Highland Reserve (53) and Clover Hill (48).
Coomera Springs has held a 12% share of the
market in this period. These sales figures are
much lower compared to the June 06 quarter
results where Pacific Pines, for example,
recorded 177 sales.
Residential Vacant Land Market
Main players are listed in the following table:-
