Residential land sales may currently sit at historically low levels, but the market is slowly starting to claw its way back from the bottom, a HIA-RP Data Residential Land Report has found.
According to the report, land sales grew by 1.3 per cent over the September 2011 quarter.
While volumes for the September 2011 quarter still remained 16.8 per cent lower than those seen in the September 2010 quarter, the slight improvement was a good sign for the year ahead, HIA chief economist Andrew Harvey said.
"It's a long climb back but at least we have now seen three consecutive quarters in which land sales volumes have increased," he said.
This information is provided by DPN Pty Ltd ABN: 94 630 700 186 Australian Credit Licence 514759. DPN Finance Pty Ltd is an authorised credit representative 504129 and related entity of DPN. Credit for Dream Big 100% Offset and Work Smart 100% Offset is provided by Adelaide Bank a division of Bendigo and Adelaide Bank Ltd, ABN 11 068 049 178 and Australian Credit Licence 237879. Casa Capace Operations Pty Ltd, NDIS provider number 4050038018 trading as Casa Capace.