Geraldton Heights Estate Provides Solution to Declining Land Sales
Announcement posted by Geraldton Heights Estate 29 May 2013
Geraldton real estate developer reveals why current Australia-wide slump in land sales may provide unprecedented opportunity for WA home buyers.
Geraldton, WA, May 29, 2013 - The Housing Industry Association, Australia’s governing force in real estate building for residential areas, recently released a report documenting the most current statistics on land and housing sales. While WA and Geraldton were insulated from the worst of the statistics, the rest of Australia is still struggling.
Two quarters ago, the land market sustained a 20% drop in sales, which constituted a significant blow to the real estate industry. However, in the previous fiscal quarter, the December quarter of 2012, there was a 13.6% increase in sales. This may seem like a good improvement, but it still means that sales numbers are down on the previous financial year.
In addition, due to taxes on new land projects and the overall rise in prices, many potential buyers remain hesitant. Although there was a slight improvement within the first few months of 2013, the projections for the rest of the year indicate that there may be increases in the south and western parts of the country, but no notable improvements anywhere else.
The price for vacant land has also increased to an all time high, an increase of 1.2% from the last report. New home costs have also increased, thereby causing the sales of new properties to drop by about 5.3%, the lowest it has been in the past fifteen years.
This indicates that the real estate market is not doing too well. Fortunately for those in Western Australia, the mining boom has mitigated and somewhat eased the effects of the overall economy.
In many parts of Western Australia, the market is much healthier than it is across Australia, with market indicators suggesting significant growth in the future. Interest rates are historically low, while land is still relatively affordable.
4Land Property Group is providing affordable land in their Geraldton Heights development, a four and a half hour drive north of Perth. A prime location for mining, agriculture, tourism, and fishing, the City of Geraldton is thriving.
Lauren O’Connor, Marketing Manager of 4Land Property Group, sees a different economy in Geraldton to that across wider Australia: “The real estate market is struggling across many parts of Australia, but it is strong in Geraldton. Every projection that we have been able to get our hands on indicated that the price of real estate in Geraldton will increase significantly over the coming years.”
O’Connor is very optimistic for the future of Geraldton Heights Estate: “Geraldton Heights Estate offers a rural lifestyle with access to city amenities. It is a master planned community, and will eventually have its own infrastructure, including a town centre with stores, and even its own schools.”
O’Connor concluded, “Despite the gloomy outlook across Australia the last few years, the real estate market is alive and well at Geraldton Heights Estate.”
Geraldton Heights Estate is a planned real estate community in Geraldton, WA. For more information, please call 08 9965 7600 or visit their website http://www.geraldtonheights.com.au/
Two quarters ago, the land market sustained a 20% drop in sales, which constituted a significant blow to the real estate industry. However, in the previous fiscal quarter, the December quarter of 2012, there was a 13.6% increase in sales. This may seem like a good improvement, but it still means that sales numbers are down on the previous financial year.
In addition, due to taxes on new land projects and the overall rise in prices, many potential buyers remain hesitant. Although there was a slight improvement within the first few months of 2013, the projections for the rest of the year indicate that there may be increases in the south and western parts of the country, but no notable improvements anywhere else.
The price for vacant land has also increased to an all time high, an increase of 1.2% from the last report. New home costs have also increased, thereby causing the sales of new properties to drop by about 5.3%, the lowest it has been in the past fifteen years.
This indicates that the real estate market is not doing too well. Fortunately for those in Western Australia, the mining boom has mitigated and somewhat eased the effects of the overall economy.
In many parts of Western Australia, the market is much healthier than it is across Australia, with market indicators suggesting significant growth in the future. Interest rates are historically low, while land is still relatively affordable.
4Land Property Group is providing affordable land in their Geraldton Heights development, a four and a half hour drive north of Perth. A prime location for mining, agriculture, tourism, and fishing, the City of Geraldton is thriving.
Lauren O’Connor, Marketing Manager of 4Land Property Group, sees a different economy in Geraldton to that across wider Australia: “The real estate market is struggling across many parts of Australia, but it is strong in Geraldton. Every projection that we have been able to get our hands on indicated that the price of real estate in Geraldton will increase significantly over the coming years.”
O’Connor is very optimistic for the future of Geraldton Heights Estate: “Geraldton Heights Estate offers a rural lifestyle with access to city amenities. It is a master planned community, and will eventually have its own infrastructure, including a town centre with stores, and even its own schools.”
O’Connor concluded, “Despite the gloomy outlook across Australia the last few years, the real estate market is alive and well at Geraldton Heights Estate.”
Geraldton Heights Estate is a planned real estate community in Geraldton, WA. For more information, please call 08 9965 7600 or visit their website http://www.geraldtonheights.com.au/