Solid auction volumes for sites across NSW and much of the rest of the eastern seaboard are creating favourable conditions for developers to build up pipelines despite residential auction numbers declining.

And while it is early days yet for 2023, the signs are there it could well be a solid year for development sites on the block, bringing opportunity to those ready, willing and able to make the most of a more challenging economic period.

Expressions-of-interest campaigns remain a common tactic to move on sites earmarked for development, but tightening monetary policy, rising inflation and interest rates coupled with higher construction costs and labour shortages have hit the market hard, with sale volumes of development sites cooling.