Property buyers snapped up new release blocks in Chittering so fast after they went on sale on Saturday, June 16th, that developers were stunned.
The blocks almost sold out that weekend and just five blocks were still available last week.
The developers said the overwhelming demand for land had forced them to bring forward the release of stage one of the Chittering Springs by a month.
Project manager Tony Manners said the response from buyers showed Perth was suffering a real estate shortage. “We were overwhelmed with enquiries when we launched the development in May with hundreds of perspective buyers looking to buy land now”, Mr Manners said.
The mostly two-hectare (five acre) blocks varied from $285,000 to $315,000 and, when finished, the development will include 108 blocks.
Mr Manners said the picturesque Chittering region was one of WA’s best kept secrets.
“Most of the buyers seem to be people who want a ‘tree change’ and locals who like a country lifestyle near all the modern facilities”, he said.
Chittering Shire CEO Kenn Donohoe said he was not suprised by the demand and there were another about 33 subdivisions either approved or waiting approval, potentially opening up over 3000 more blocks in Chittering.
The sub-division boom has also hit the Gingin shire. Local property expert Tim Cabassi said the 74 lots in Marchmont Estate had sold out, and the 86 lots in stage one and two of the Cheriton Country Estate were also gone.
Eighty lots were recently released in the newest sub division, Honeycombe estate, and Mr Cabassi said only 12 were left to sell.