Sales of residential land in Australia falls as prices rise

Residential building land in Australia has increased in price but availability is falling, making it more and more difficult for builders to provide affordable housing, it is claimed. In the last quarter of 2015 the number of residential lot sales across Australia fell by 1.6% while the median lot prices increasing by 5.2% to $234,600, according to the latest edition of the HIA-CoreLogic RP Data residential land report. Land supply pressures were more pronounced in the capital cities, with lot s...