I have attached the contents of the AFR article below.
This article probably explains why Cedar Woods (CWP) went up today as they are a very prominent developer here in Victoria.
Land sales pick up at Villawood as confidence risesNick LenaghanProperty EditorJul 30, 2019 — 4.09pm
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Residential land developer Villawood Properties has had its strongest month in sales for the year in July for its projects in Melbourne and Geelong, Victoria's second largest city.
The developer sold 97 blocks of land in Victoria during July. Across the month weekly sales in the state have been double – and in some weeks, triple – weekly sales before the federal election on May 18.
The improving result at Villawood also comes as new homes sales nationally ticked up in the June quarter, the first quarterly improvement since December 2017,
according to figures released by the HIA this week.
Prices of vacant land have also stabilised and are even showing fresh signs of growth, according to Villawood. The median price of a 14-metre by 32-metre lot was $363,000 in the past quarter, up from $349,000 a year earlier and up from $281,000 in the same period in 2017.
That result also contrasts with pricing before the federal election. The gross median lot price in Melbourne had stalled at $337,000 in April and
was down 5.1 per cent over the preceding 12 months, according to project marketers Red23 .
“There is no doubt that confidence has lifted in the market since the federal election in May. The increase in inquiries and sales was immediate,” Villawood's executive director, Rory Costelloe said.
