HIA and CoreLogic RP Data recently released the latest update to their Residential Land Report, which showed some relief from the tight conditions that had been afflicting the market in previous quarters.

Amid a strong increase in vacant residential land sales, the pace of increase in prices eased off during the June quarter this year. This follows the deteriorating situation of sharp price increases against declining sales volumes, reflecting a classic demand-supply imbalance that had been escalating since late 2013. Developments in…