Land Banking

This story came out in a few journals claiming that Land Banking was one of the reasons for our housing shortage. Land banking is where developers buy land and keep it on the shelf until the optimum time to release it onto the market. Some shires have been known to implement sunset clauses on DA approvals to stop this.

This activity may be true in Lismore and Tweed Shires as mentioned here, but I don’t buy it in Byron Shire. If you exclude West Byron and the two remaining stages of Tallowood in Mullum, then I could count on one hand the number of new releases already approved in Byron Shire. This is another furphy like stopping AirBNB is going to resolve affordable housing.