Mitchell Brown

One of Melbourne’s biggest private land developers has landed in Perth, acquiring Satterley Property Group’s Austin Lakes estate near Mandurah.

The Housing Industry Association of Australia has forecast a recovery for Western Australia’s home building sector over the next 12 months, following a series of stimulus schemes announced by state and federal governments in recent weeks.

The ripple effect of recent federal and state government housing grants and incentives has started to materialise in the state’s Peel region.

While Western Australia has recorded solid growth in residential property values in recent months, it’s still yet to catch up to its east coast counterparts.

Victorian property players Wolfdene and Oreana Group have acquired a 72ha parcel of land north of Ellenbrook, with a view to developing a $300 million project.

Land developers are embracing inland areas and different housing types in a bid to meet the state’s housing needs.

The Victorian land developer has purchased of a nine-hectare block in East Wanneroo to create a $46 million project, cementing strong interest from residential developers.