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Land under way in south-west WA
1 May 2006
A minor rural land boom is underway in the south-west of Western Australia, with speculators buying land with proximity to residential areas in the hope of a rezoning. Investors spent at least $150 million on land deals in the south-west last year. In the Shire of Busselton, 60 rural properties of more than 40 hectares were sold last year for a total of $48.8 million. In the Augusta-Margaret River Shire, the value of similar sales rose from $42.4 million to $79.5 million over the same period. A new rush may be underway in the Peel region where land is being snapped up in expectation of the new Perth to Bunbury Highway and upcoming resources projects. In the Shire of Murray, rural land sales have risen from $8.7 million to $27.2 million in five years.
West Australian, 29/04/06
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