Greenfield markets and land affordability

All state planning authorities have stipulated that greenfield development remains important in metropolitan land markets because of its role in providing affordable housing for new home owners. This article analyses the performance of the greenfield industry in Melbourne, Perth, Sydney and South East Queensland (SEQ) according to this criterion. It shows that only in Perth is the greenfield industry now capable of meeting this objective. As a result, the outlook for new home buyers in Melbourne, Sydney and SEQ is bleak. Copyright. Monash University and the author/s