House and Land Sales Soaring in the Mid West

Booming sales of house and land packages on land estates in Geraldton defy “gloom and doom” predictions of critics.

Thanks to the controversy surrounding yet another failed effort to fund the perpetually “in the works” Oakajee Project, economists have predicted gloom and doom for the Mid West region. However, we haven’t seen any gloom and doom in Geraldton. In fact, we have seen our land blocks at Geraldton Heights Estate sell out shortly after we put them on the market.

There are only two blocks left in Stage 1, and Stage 2 already has more than half of the blocks sold or under offer.

House and Land Sales Soaring in the Mid West

Why Geraldton Heights Estate is so Popular

We started Geraldton Heights Estates in 2012 and began selling blocks in 2013. Stage 1 was an instant “hit” among buyers, with most blocks sold shortly after being made available. Geraldton Heights Estate is a master planned estate which will eventually contain 2,500 homes on blocks starting at 2,000 m2 in area. That provides plenty of room for your dream home, a large patio and alfresco area, a huge backyard, a pool and a shed.

Another feature that makes Geraldton Heights Estate so attractive to buyers and investors alike is that the community will eventually have its own infrastructure, featuring shops, schools, a town centre and medical facilities. In the interim, however, all of the amenities and infrastructure of Geraldton are a ten minute drive from Geraldton Heights Estate, providing easy access to everything you need to make living easy and convenient.

Geraldton Heights Estate is also located ten minutes from the Indian Ocean, which can be seen from all of the homes in the development. Blocks of land in Stage 2 are priced at $129,000. When you put it all together, you get a great location for anyone wanting a “sea change”, a growing area, proximity to some of the world’s most stunning beaches, a plethora of recreational opportunities and reasonably priced land blocks. It’s no wonder that so many people from around WA, including Perth, are taking advantage and getting in on the “ground floor”.

Economic Factors: WA Real Estate Market Statistics

REIWA figures for the March quarter indicated that regional areas outperformed Perth, though “mining areas” were said to have “suffered”. Perth saw a 0.7% rise in home prices for the quarter; the median price for a home in Perth is now $553,000. Apartments in Perth lost 1% and are now sitting at $445,000.

Meanwhile, the median price for a home in regional WA rose 3.4% to $393,000. Apartments in the regions also rose 3.4% and are now at $330,000. Mandurah, Busselton and Bunbury were the strongest regional performers, while Port Hedland, Kalgoorlie and Karratha were “flat”.

Most economic observers feel that negative talk about the mining industry and about the budget are holding the WA real estate market back.

Defying the Market: the New Home Factor

While established homes do seem to be struggling, new homes are having no problem. Most developers, including 4Land Property Group, are finding a high demand for new homes. New homes represent a value for many buyers because you can save as much as 15% when compared to an established home.

Developers such as 4Land Property Group are not concerned about the median price for homes in communities such as Geraldton Heights Estate. We already know that the area is poised for growth. What is of importance to us is providing affordable homes in great locations.

That is one of the big reasons why new homes are selling so well, especially when done right. If you provide a great location with plenty of infrastructure and high potential for capital growth, while also providing access to trusted builders who can provide a great structure, all at a reasonable price, it is impossible not to be successful.

Find Out for Yourself

Call Geraldton Heights Estate today to find out more about one of our Stage 2 land blocks: (08) 9301 4445.