Locals Respond to Margaret River's New Land Market

Local land buyers are largely responsible for a significant increase in the number of recorded land sales in Margaret River, according to Rapids Landing Sales Manager, Steve Harry.

In the past few months some 32 lots, making a total of 46 lots in these first releases, have
been sold in this new residential subdivision just south of the town centre, with around 25
homes planned for construction to commence by this coming summer.

It is an unprecedented amount of activity in the face of recent property reports, says Steve
Harry, but equally momentous, in that the large majority of land buyers are locals.

“Certainly, price has played a large role in people’s return to the market. In the last twelve
months, land values have levelled to meet market demand and, as a result, lot prices have
been re-adjusted accordingly,” Steve said.

“However, now that the market has settled down, the real value is evident when people
begin to shop around. The Rapids Landing developers have invested in increased
infrastructure such as fibre technology, waste water re-use, community facilities and rebates for landscaping, fencing and rainwater tank upgrades.”

Steve Harry said that today, land owners will get more for their money than ever before.

“Rapids Landing not only incorporates hundreds of thousands of dollars worth of technological infrastructure accessible to residents, it also has a local Primary School site,
shopping village, state-of-the-art playground equipment and extensive parkland. In short,
residents get far greater value.” he said.

“As a result, interest in Rapids Landing has not only been driven by the boost to the first
home buyers grant, but also by a large number of second and third home owner builders
buying blocks.”

Rapids Landing is located just five minutes from the Margaret River town centre, around the
corner from some of the region’s best wineries and a short drive to world-class surf breaks.

“We are optimistic about the future of land sales in the region. Lester Group, the Rapids
Landing developers, has been in the region close to 20 years and have recently received
national recognition for their work at Riverslea, Margaret River. A new stage for Rapids
Landing is now being considered,” Steve said,

“We anticipate the property cycle will now take hold with investors likely to enter the market later this year, after the first home buyers market settles down. Although this isn’t likely to happen before the final wave of first home owner buyers takes advantage of the reduced, but still very significant, $14,000 boost to the Government First Home Owner grant, leading up to the December cut-off point”

Rapids Landing currently has only three lots left from its Stage 1 release and 17 from its
recently launched Stage 2 release. A total of 48 lots have been sold. Land prices start from
$149,000.

For more information call Steve Harry on 0428 933 327 or 9780 5777.