Buyers are back in the SW
BUYERS are back in the residential land and home market in the South-West, according to the Satterley Property Group.
BUYERS are back in the residential land and home market in the South-West, according to the Satterley Property Group.
It has pre-released 22 new home sites at its Provence estate in Busselton.
Estate manager Alan Abel said improving buyer confidence and activity were putting land stocks under pressure.
"Buyers have realised that after the price correction of the past couple of years, it is time to reconsider,'' he said.
"In August at Provence we had our best month of sales in many months and this is a great sign. While the market in Perth has seen more activity in the past eight months, we are only now starting to see a more upbeat mood among South-West buyers.''
Mr Abel said recent buyers included a couple who had been waiting to sell their Perth property to realise their dream of living in the South-West.
Another couple were relocating to the South-West and wanted their children to attend the Georgiana Molloy School, which was on the estate.
The 22-lot release includes two block sizes 576sq m priced at $147,500, and 1016sq m lots from $205,000 to $215,000. All lots include landscaping and fencing packages valued up to $5000.
The new lots are near the landscaped lakes, family parks and gardens on the estate.
Provence is Busselton's first master-planned community. It has more than 36ha of lakes and parklands, including cycle and walking paths.
"There's open space for sporting groups, a range of playgrounds, as well as preserved bush land and family picnic areas and barbecues,'' Mr Abel said. He expected a further boost in buyer confidence following Rio Tinto's recent agreement for fly-in, fly-out workers from Busselton airport.