Land values soar as Aussies flock to detached housing

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According to the latest dwelling construction data from the ABS, Australia has a record volume of detached houses currently under construction:

This insatiable demand has also driven lot prices to record highs, according to the Housing Industry Association (HIA):

“A significant increase in the price of land indicates that supply is not keeping pace with demand,” said HIA Economist, Angela Lillicrap…

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.