Even the hardiest domestic traveller would have looked twice when images of tents pitched outside a Perth land sales office splashed across our papers and screens in June.
Camping on the beach may be a long-enjoyed pursuit for some within Western Australia, but camping overnight to secure a new release coastal block of land at Satterley’s Eden Beach estate is surely one of the strongest anecdotal signs of demand in the local land market.
Motivated by significant stimulus at a state and federal level, along with an environment in which interest rates are at their lowest recorded point in history, there’s little wonder developers are reporting being run off their feet of late, with up to $70,000 of bonus financial incentive in play for eligible buyers and available stock snapped up at dizzying rates.
What does that mean for supply? With demand high, a number of WA developers are currently pushing ahead with plans to bring new stages of land to market.
Satterley is among these. CEO Nigel Satterley told New Homes the stimulus had changed the equation for the company’s upcoming releases.
“Since the HomeBuilder grant was announced we have seen an overwhelming increase in enquiry, and even moreso once the WA Building Bonus was announced,” he said.
“As a result we are releasing a range of stages early across many Satterley estates in WA.”
Mr Satterley said new releases were expected at Seven Hills in Dianella, Eden Beach in Jindalee, The Hales in Forrestfield, Honeywood in Wandi, Ocean Hill in Lakelands, Allara in Eglinton and Dalyellup Beach in Dalyellup over the next six weeks.
First stages at three brand new projects – Myella in Wanneroo, Clementine in Upper Swan and Seaside in Madora Bay – are also on the cards.
But Satterley is just one of a number of developers intending to release land over the next few months. Fresh off re-opening its Baldivis Grove project, Frasers Property Australia is expecting land at its new East Green project to be available in mid-July, while also anticipating a new stage of land at Port Coogee around the same time.
Cedar Woods has launched new stages at The Brook at Byford, Solaris and Millars Landing estates over the last few weeks, with more on the cards at Harrisdale Green and The Rivergums in Baldivis.
Yolk Property Group recently launched Anstey Grove Forrestdale, and LWP Group’s Mahala development at Forrestdale will release its first land in late July.
Acumen Development Solutions is fresh off the release of a new stage of land at its Capricorn Beach estate, and expects new releases at Salita Estate and Atlantis Beach over the next few months as well.
The above are just some of the many impending land releases on the horizon in WA from myriad developers across the state.
While demand for land may be particularly strong at present, Mr Satterley said camping outside land estate offices was not necessary or encouraged. He said prospective purchasers should register their interest in projects online, with systems in place to assist securing a lot without having to brave the winter conditions.
More information on upcoming land releases can be found by contacting the individual developers direct.