Land Shortage
INCREASED house prices in Queensland and the Gold Coast are being driven by delays in government approval processes, according to the development industry's peak body.
Urban Development Institute of Australia (Queensland) president Brent Hailey said a shortage of land because of governmental delays was contributing to rising prices.
Mr. Hailey congratulated Queensland Premier Anna Bligh for setting up a new planning ministry but said more needed to be done to speed up the provision of land throughout the state.
“`The writing is clearly on the wall,” said Mr. Hailey.
We are now in a major under-supply situation as evidenced by the recent BIS Shrapnel report, which indicated that we are likely to see another 40 per cent increase in house and land prices in Queensland in the next three years
.