First homebuyers could see almost $100,000 slashed from their house and land packages if they choose to move to Collie, after land prices were dropped as part of a State Government initiative.
As part of the $116 million Regional Land Booster initiative announced on Tuesday, 37 development-ready lots across the South West have been reduced by thousands to help people get into the market.
Millions of dollars’ worth of contracts have been signed or negotiated in the region following the introduction of State and Federal government building grants in June, which when paired with the First Homebuyer Grant and stamp duty concessions, tallies up at $69,000.
And with DevelopmentWA’s 666sq m to 3057sq m residential lots in Collie’s Buckingham Way estate slashed by $7000 to $25,000, the overall saving almost hits six figures.
Block prices start at $88,000, which regional general manager Stuart Nahajski, pictured, said would see a lift in finance approvals and encourage more people to move to the region.
Prime real estate opportunities in Bunbury have also seen major price drops, with two Koombana waterfront mixed-use lots – sized 956sq m and 1064sq m – now $100,000 cheaper.
A number of lots ranging from 2000sq m to 1.55ha in Collie’s light industrial area have also been cut by up to $52,500, which shire president Sarah Stanley was pleased to see, saying it would make projects more viable.
Council had advocated for the State Government to have another look at the pricing of both Buckingham Estate and the light industrial area, so it’s good to see that they’ve done that.
“Hopefully it encourages more people to come to Collie.
“Collie’s got lots of things going for it, it has a really bright future ahead of it with new industries popping up all the time and it is situated in a really beautiful area.”
With several blocks up for grabs in the estate five minutes north of Collie, Mr Nahajski said it was an exciting opportunity for people to move to the country and enjoy the lifestyle.
“It’s the perfect time to take advantage of both the State and Federal building bonuses that are in place and to now to have the benefit of reduced land prices here,” he said.
There’s no time better than now to make that decision to commit to building a house and moving to Collie.
Collie-Preston MLA Mick Murray said the initiative would also stimulate residential and industrial construction following the downturn brought about by the coronavirus pandemic.
“Our region is a great place to live, work and play as well as increasingly being a great place to invest or build a business,” he said.
“More affordable land should entice people to our region who will then support local jobs and provide further long-term benefits in our community.”