Cushman & Wakefield: NSW developers favour sites with planning certainty

Cushman & Wakefield flags a selective NSW development market as capital shifts to sites offering greater planning certainty. Higher construction and financing costs, longer planning times, and buyer price sensitivity are tightening feasibility screens for new projects. Developers are underwriting land deals based on current end values and funding conditions rather than future market growth or easier credit. Demand for housing remains strong, but converting land into financially viable projects is the key constraint under current economics. Pricing gaps are widening, favouring "defensive"