04/01/2011 - 15:03

Satterley joins builders in cheap deals

04/01/2011 - 15:03

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The Satterley Property Group and 17 of the state's leading builders are set to combine resources in a partnering arrangement to deliver more affordable housing.

Satterley joins builders in cheap deals

The Satterley Property Group and 17 of the state's leading builders are set to combine resources in a partnering arrangement to deliver more affordable housing.

The Satterley-home builders' initiative wll offer hundreds of house and land packages across eight estates from this Saturday until March, with prices starting at $272,000.

The initiative is an attempt to entice more buyers into the flagging WA property market, which some researchers cite as the weakest in the country.

Satterley will join forces with some of the state's biggest builders, including Dale Alcock Homes, Homebuyers Centre, Scott Park, Collier, Ross North Group and Summit Homes.

Satterley managing director Nigel Satterley said the new campaign will make it easier for first-home buyers to enter the market.

"WA has been a good buyer's market for some time, but these incentive are the best for years," he said.

"I am optimistic that this will act as a catalyst for a resurgence across the property industry and motivate other developers to do the same.

"We are talking here of an unlimited number of land-home packages available in award wining, master-planned estates like Brighton, Secret Harbour, Dalyeyllup and Provence at Busselton."

Buyers will also be offered special builder bonuses, such as free swimming pools and air conditioning, and home entertainment packages.

"People have been wary of interest rates and in all retail, as well as in land and housing, buyers have become gun shy," Mr Satterley said.

"Buying the family home is the biggest investment most people will make in their lifetime.

"It won't be long before the heavy demand touched off by the new surge in the resources industry will expose a further shortage in land and push rental prices higher.

The Master Builders Association welcomed the announcement, saying it will provide an incentive for many to enter the property market at a quite time.

Director Michael McLean said the timing was good as trades were in abundant supply and construction periods relatively short.

"With WA's population forecast to grow by about 400,000 over the next 10 years,
the housing industry will be challenged to maintain these current levels of
affordability," he said.

"Master Builders believes the Satterley initiative will encourage other land
developers to work more closely with residential builders to make home ownership more attractive in the future."

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