People are camping to secure land
One of the state’s biggest land developers says there is an urgent need for 6,000 more housing blocks in Perth.
The Urban Development Institute says it is concerned that a shortage of blocks will drive prices higher as the state enters another mining boom.
The Institute says there are currently fewer than 1,400 blocks of land for sale in Perth, or 40 per cent fewer than during the last mining boom in 2006.
Developer Nigel Satterley says people are once again camping out at new land releases to secure a block, which hasn’t happened for more than two years.
“In December, we had campers in four locations, and last weekend in Brighton we had campers camping out for up to three nights to secure lots in the new release in Brighton.”
Mr Satterley says demand has picked up significantly in the past couple of months.
“At the coalface the supply in most of the popular corridors has tightened significantly in the past four months so I would think we would need over the next six months, at least another 6,000 titled lots to keep up with the interest.”
The Premier Colin Barnett says there are 70,000 lots approved for development around the state but developers are not releasing them.
“I would urge property developers to bring on their projects and I think there is greater scope for property developers to do that to actually bring on service lots otherwise we could very quickly find a shortage.”
A spokesman for the Satterley Property Group in Perth says it is not easy to release new housing lots.
He says the approval process can take three to five years and cost millions of dollars.
The Planning Minister John Day says the government is doing everything it can to speed up the approvals process.
“There have been problems over the last 12 months. particularly in relation to a lot of land developers getting access to finance given the global financial crisis we had.”
So, the banks have got a role to play, the private sector’s got a role to play and I acknowledge the government’s got a role to play but we are doing everything we can to move apporvals through as quickly as we can.”
Posted on 2010/03/10, in From The Editors, The World Today and tagged camping for a house lot, housing, land development, Perth, Urban Development Institute, Western Australia. Bookmark the permalink. Leave a comment.