Land shortages are pushing lot prices to a new record high, up by more than quarter compared to pre-pandemic prices.

Over the year to September the medium price of lots increased by 3% , taking the price to around $340,000

During Covid period regional areas saw a large spike in land prices and sales.

Rural reporter Georgia Kondek spoke with Corelogic Economist Kaytlin Ezzy about how this increase indicates just how restricted the supply is:

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