The Victorian land developer has purchased of a nine-hectare block in East Wanneroo to create a $46 million project, cementing strong interest from residential developers.
Victorian property players Wolfdene and Oreana Group have acquired a 72ha parcel of land north of Ellenbrook, with a view to developing a $300 million project.
While Western Australia has recorded solid growth in residential property values in recent months, it's still yet to catch up to its east coast counterparts.
The Housing Industry Association of Australia has forecast a recovery for Western Australia's home building sector over the next 12 months, following a series of stimulus schemes announced by state and federal governments in recent weeks.
