Do developers drive the change, or does the market?

I thought this was a great question @Blacky raised in another thread and interested on feedback

I think it is the market that drives the change, it will be dependent on the area, income, price point, age etc.






MTR

 

Sorry but honestly the developers need to see the holes in the market, jam a wedge in and open it up a mile wide to profit from it.

The market is the market. It does what it does. It's an entirely human construct designed for humans by humans for humans....yes, read that again.

 

Depends what change your talking about. Personally I believe developers do have some small influence but ultimately I believe the wider market will dictate what can happen, not individual developers.

From my perspective, developers can build whatever they want, as innovative, efficient etc etc but at the end of the day if people can not afford to pay for it, then its not going to sell and that trend wont continue until the market is financially able to embrace the change.

 

The market doesn't just comprise of people either, it also includes the regulators/planners of development as well. I.e. council or other if the area is designated as an urban renewal / priority development zone; or state / federal government building major new infrastructure in a suburb. These can enable dramatic changes very quickly.

Increased height / density allowances in a zone for example, may instantly make certain developments viable.

 

good point

 

@Dmarkw - you've hit the nail on the head.

Without both State & local government driving zoning changes through SEPP & LEPs to allow and promote future development and land use nothing happens.

Blame developers for landbanking until market conditions become favourable even though zonings may be permissive.