New Satterley blocks released to Perth buyers
UP to 400 Satterley Property Group home sites will be fast-tracked to the Perth market to meet demand.
UP to 400 Satterley Property Group home sites will be fast-tracked to the Perth market to meet growing demand.
Satterley chief executive Nigel Satterley said the release of the blocks would help meet demand from first-home and move-up buyers.
Mr Satterley said the company's mood was upbeat, with sales for the first six months of 2012 up more than 15 per cent on the same period last year.
Mr Satterley said while sales at his various estates mirrored the vagaries of the real estate market, the estates favoured by first-home buyers only had a small number of untitled lots remaining.
"The first-home buyer is back in the market, and at our master-planned estates, close to schools, close to transport, close to shops and with great access to family parks and the great outdoors, we need to get new stock on the market,'' he said.
Just under 50 per cent of buyers in the past financial year were first-home buyers, but people building their dream home, downsizers and investors were also back in the market.
Mr Satterley said company figures mirrored other real estate data, with more than 70 per cent of buyers purchasing house-and-land packages at or below the median house price in Perth of $475,000.
Lots will be fast-tracked in the Brighton, Honeywood, Evermore Heights, Beaumaris Beach and Heron Park estates, with construction under way to service the new lots.
"The land development industry is coming off a few lean years and until now there has been no mood, or need, to bring new stages and new lots on to the market,'' Mr Satterley said.
"But the mood of the market has changed and we are responding to that demand.
"At Brighton, an estate of more than 8000 homes in the northern coastal strip, only six new home sites are available for sale, while at Heron Park, in Harrisdale, from 120 lots releases in the past six months, only 17 lots remain unsold.''
Mr Satterley said the planned releases were untitled stock, with titles becoming available as infrastructure and services were completed.
He said buyers should secure land while builders and developers were offering building incentives.
For more information visit www.satterley.com.au.