I still don't see why landbanking by the larger developers should be seen as "hoarding".
Stockland is in the business of purchasing, subdividing, constructing and selling lots. They continually need to replenish stock, which means purchasing (usually) large tracts of farmland well in advance....communities sometimes take decades in the planning and in their staged delivery.
I designed subdivisions, prepared cost estimates and supervised construction of estates for the likes of Stockland, Kurts, and Pask back in the 80s in SE Qld. Out of necessity, the timelines for communities can be generational. There are multiple reasons for this.
The huge positive about landbanking is that in times of demand, you have everything in place for release into the market, as needed.
Let me repeat: there is no "hoarding" as a means to corner the market. Another thing.....each of the above mentioned developers had their own style* which, if we extrapolate across all land development, allowed for a very deep baseload of supply in terms of volume, timing, and location. We have all benefited as a result.
*[Stockland = generalist; Kurts = countercyclical, townships; Pask = specialised in the one locale]
