DevelopmentWA has recorded a sales surge in regional lots following the launch of the McGowan Government's $116 million Regional Land Booster Package.
Designed to deliver more affordable land and drive investment and economic growth in regional Western Australia, the program, which was launched on July 15, 2020, is already delivering results.
In the first three weeks of the initiative, DevelopmentWA saw a fourfold increase in regional sale enquiries compared to the same period last year and 40 lots across regional WA were sold.
This includes the first sale of DevelopmentWA land in 13 years for Kambalda and the first sales in Broome and Karratha in six years.
The Pilbara has experienced a significant increase in demand as a result of the Regional Land Booster, In the first week alone, land buyers placed offers on 18 lots at Karratha's newest residential estate, Madigan at Baynton West.
The buyers include first home homes owners, local investors and local business owners who have snapped up lots available from $95,000, a saving of $24,000.
DevelopmentWA will now release a further 15 lots to meet the strong demand in the local market.
The Regional Land Booster applies to 1,095 development-ready industrial, commercial and residential lots across regional WA for sale at affordable rates, saving land buyers a combined $116 million.
The Regional Land Booster package comes in addition to the State Government's Building Bonus Grant and the Federal Government's HomeBuilder grant, enabling eligible land buyers to receive up to $69,000.
For more information visit: http://developmentwa.com.au
As stated by Lands Minister Ben Wyatt:
"This is an outstanding result and exactly the outcome the McGowan Government was hoping the package would achieve.
"There has never been a better time for people to invest in living and working in regional Western Australia.
"The Regional Land Booster package is designed to support the region's COVID-19 economic recovery.
"Delivering more affordable land in regional areas will help stimulate local economies, drive business investment and support local jobs in the regional building and construction sectors as well as supporting sectors such as transport and logistics.
"I look forward to seeing more sales across the State in the coming weeks."
As stated by Pilbara MLA Kevin Michel:
"I have worked with the Minister to help local residents access affordable land in the Pilbara, and the recent sales data shows that demand is now growing.
"This is a fantastic time for people to invest and build up here to make the Pilbara their home."
