12/08/2020 - 10:11

Land package delivers record sales

12/08/2020 - 10:11

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DevelopmentWA has recorded a surge in regional lot sales within the first week of the state government’s $116 million land package.

Land package delivers record sales
DevelopmentWA has reported a fourfold increase in regional sales enquiries. Photo: Gabriel Oliveira

DevelopmentWA has recorded a surge in regional lot sales within the first week of the state government’s $116 million land package.

The initiative, which launched in mid-July, was designed to make residential and industrial land more affordable in Western Australian regions and support the state’s post-covid recovery.

The package comprises discounted land – made available through state-owned DevelopmentWA – with the aim to stimulate building and construction activity, as well as drive activity for regional businesses.

Within the first three weeks of launching the Regional Land Booster package, DevelopmentWA has reported a fourfold increase in regional sales enquiries compared to the same time last year, with 40 lots across regional WA sold.

That includes the first sale of DevelopmentWA land for the town of Kambalda in 13 years, and the first sales in Broome and Karratha in six years.

Lands Minister Ben Wyatt said it was an outstanding outcome for the state.

“There has never been a better time for people to invest in living and working in regional Western Australia,” he said.

“Delivering more affordable land in regional areas will help stimulate local economics, drive business investment and support local jobs in the regional building and construction sectors, as well as supporting sectors such as transport and logistics.”

The Pilbara region experienced a significant increase in demand, with land buyers placing offers on 18 lots at Karratha’s newest residential estate, Madigan at Baynton West.

Buyers include first home-owners, local investors and local business owners purchasing lots from $95,000 – saving $24,000, the state government said.

DevelopmentWA says it will release a further 15 lots to meet the strong demand.

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