Melbourne Residential Outlook Report 2024

6 The sentiment suggests that development sites are unlikely to appreciate in the short term, mainly due to concerns about construction costs and planning risks. Therefor, if you are thinking short term, it is advisable to either develop the site in the short term or dispose of it. Additionally, the introduction of vacant land tax for vacant sites adds to this justification. While builder insolvencies have not peaked yet, most people believe that the current rate of insolvencies will continue over the next 12 months. This will not only affect the availability of builders but also reduce competition among them. Thinking forward