“There’s still a wide range of stock. We do have more townhouses now than what we used to have, and there’s more choice for buyers across a range of different property types. I think that’s pretty good news.”
Long-term supply measures, including government efforts on land and consenting, are also reasons for confidence. Still, Davidson said that this all largely depends on long-term commitment which isn’t always possible within our election cycle.
“Government measures round land supply and consenting processes take some time, but there’s every reason to be positive about those in the medium to long term,” he said.
“Will they have an impact tomorrow or the next day? Probably not, it’s more about the long term. I’m optimistic about it.
“Of course, the big caveat is that we’ve seen various governments in the past try to take steps on housing supply and if they lose an election, it all gets thrown out,” he said.