Buying new is booming: 31% of all buyers are building or buying new homes

31% of buyers opted to build new in 2023 - but what's causing the desire for new builds? And can this help make a dent in Australia's housing shortage? We chat to Senior Economist at PropTrack, Paul Ryan, and Stuart Penklis, the CEO of Development at Mirvac, to analyse the financial incentives, wait times, and whether new builds in strategically located areas can reduce urban sprawl, utilise existing infrastructure, and help the government meet its lofty targets.