In an increasingly positive sign for the housing construction industry in Australia, sales of vacant residential land have hit three year highs as a 33 per cent surge in Sydney has led to an eleven-year high in the nation’s largest city.

Published by the Housing Industry Association and property information services provider RP Data, the latest HIA-RP Data Residential Land Report indicates that the seasonally adjusted volume of sales of vacant residential lots throughout Australia surged 18.2 per cent in the June quarter to come in at 17,170 – the highest…