Perth’s land bank expected to meet strong housing demand

Western Australia's booming economy and population growth are expected to continue to fuel strong demand for residential land in Perth over the next five years.

Planning and Infrastructure Minister Alannah MacTiernan yesterday released the latest Metropolitan Development Program (MDP), which gives a snapshot of how Perth and Mandurah will grow over that time.

Ms MacTiernan said the combined population of Perth and the Peel Region was expected to reach 1.7million over the next five years - an increase of some 131,000.

"This population forecast suggests about 62,000 residential lots - including group dwelling lots - will be needed by 2010, resulting in between 70,000 to 75,000 new homes," she said.

"There are already about 36,000 lots with planning approval - the equivalent of about two-and-a-half years of supply.

"However, there seems to be a backlog in bringing these subdivisions on to the market because of the heated construction sector.

"This is the inevitable price of a booming economy, but we are doing everything we can to see land released for sale to the public."

In the medium term, the Minister said the MDP had identified a potential supply of upcoming subdivisions, development projects and approved lots to accommodate more than 100,000 dwellings - enough to meet more than six years of demand.

"We are seeing growth being spread across the metropolitan area," she said.

"The strong demand expected in the south-west corridor reflects the land development industry's recognition of the public benefits of the Perth-to-Mandurah railway, due to be completed next year.

"We are pleased to see growth in the south-east corridor of the city which had fallen behind other sectors.

An increase in the number of medium and higher density developments has also been predicted for the next five years, particularly in Perth's inner suburbs, Mandurah, and in rail station precincts including Cockburn Central, Leighton and Burswood.

"It is encouraging to see strong development occurring in the inner city,"
Ms MacTiernan said.

"This type of development has been championed by LandCorp and the Government's redevelopment authorities, whose projects have transformed East Perth and Subiaco and are revitalising suburbs like Midland, Armadale and Rockingham."

The anticipated top 20 potential growth suburbs over the next six years include:

Suburb & Total dwellings
Baldivis 6,298
Ellenbrook 3,984
Forrestdale 3,297
Byford 2,756
Canning Vale 2,691
Butler 2,684
Perth 2,347
East Perth 2,155
Aubin Grove 1,985
Secret Harbour 1,790
Southern River 1,743
Clarkson 1,691
Seville Grove 1,645
Wellard 1,608
Tapping 1,588
Yanchep 1,488
Spearwood 1,468
Brookdale 1,433
Dawesville 1,412
Success 1,208