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Video Transcription (24 June 2020)
With government stimulus measures driving Perth’s land sales, thousands of new jobs are expected to follow, but the boom has also sparked fresh interest from home owners on how to get the best out of their block by sub-dividing.
Land is selling hot 412 sales this week. That’s the biggest spike in WA land sales in a decade, so is now the time to subdivide?
If you are ever looking to sell a block a land, you’re not gonna find a better time than the second half of 2020, there’s so much demand for land.
Jurovich Surveying has been flooded with inquiries from home owners considering chopping up the back block.
It’s been quite busy, quite hectic with people wanting to subdivide their properties.
This Balga property is waiting approval for three new subdivisions, surveyors say elements to consider are council zoning, the area of land, you have, access to the blocks and whether the existing property is worth keeping.
But the turn around to get a new block to market will take… 6 to 12 months is a typical no nonsense, get the title, six months is really pushing it.
Bearing in mind, anyone who wants to use the government stimulus to build has to lock in a contract by December 31.
Real estate experts say land is in such high demand that title blocks like this here in St. James will likely dissipate as early as next year.
A new wave of jobs is expected to follow the boom in less than two months, Master Builders independent modeling predicts more than 6000 positions will be created. Mainly sub-contractors, including builders, electricians, plumbers, plasterers, brick layers and more.
It’s quite possible that we will have to employ extra staff.
As for the future of Perth property… unless we see a second wave of Covid or a significant rise in unemployment, I think there’s a strong chance we’ll see moderate price growth this year.
Jacqueline Robson, Nine News.