http://au.news.yahoo.com/thewest/a/-/mp/7276014/new-minister-wants-to-flood-land-market/
while this has panic stations written all over, let me give you some background into LandCorp's idea of "flooding the housing market".
Karratha, Baynton West - in an attempt to drive down house prices and rents, they "flood the market" with 100 lots at a time, 2 years apart, into a critically imploding market. Wait lists for the land are now around 1000 at any one time. Next release due July (after being pushed back from Feb) for 200 lots. Apparently the State Govt are "enthusiastic" about the release....
Port Hedland, Pretty Pool - a release of about 150 lots supposed to "cure" the land shortage - all it did was drive prices up. Town of PH released Amendment 22 - any and all rezoning considered with no maximum density - across the ENTIRE West End, or urban infill. In one council meeting the entire rental market was capped at $500 per room, although bare quarter-acre lot values skyrocketed again - as much as 50% almost overnight.
What they don't realise is the ENTIRE private developing comunity are laughing under their breath. It'd be a ministry to set up, like a royal commission, to speed the process up here in WA, otherwise this "process" will take 2 to 5 years after every govt agency has been consulted and all planning procedures exhausted. In a state full of civil servants, you can bet your bottom dollar it'll be the talk of parties that so-and-so's dept wasn't consulted and now their boss has their nose out of joint because....blah blah blah because "you know, it's procedure! we SHOULD have been consulted". so start a facebook page already...
Point is, I have NO CONFIDENCE in the State Govt to deliver. Zero. Nix. Nada. And even IF (and that an IF the size of that stupid ferris wheel) they did have the gumption to get it done, the Feds would cut their GST revenue to a trickle - almost like an embargo on funding.
i think Bill Marmion should visit Big W and look for some more shoes, it appears he's outgrown his.
while this has panic stations written all over, let me give you some background into LandCorp's idea of "flooding the housing market".
Karratha, Baynton West - in an attempt to drive down house prices and rents, they "flood the market" with 100 lots at a time, 2 years apart, into a critically imploding market. Wait lists for the land are now around 1000 at any one time. Next release due July (after being pushed back from Feb) for 200 lots. Apparently the State Govt are "enthusiastic" about the release....
Port Hedland, Pretty Pool - a release of about 150 lots supposed to "cure" the land shortage - all it did was drive prices up. Town of PH released Amendment 22 - any and all rezoning considered with no maximum density - across the ENTIRE West End, or urban infill. In one council meeting the entire rental market was capped at $500 per room, although bare quarter-acre lot values skyrocketed again - as much as 50% almost overnight.
What they don't realise is the ENTIRE private developing comunity are laughing under their breath. It'd be a ministry to set up, like a royal commission, to speed the process up here in WA, otherwise this "process" will take 2 to 5 years after every govt agency has been consulted and all planning procedures exhausted. In a state full of civil servants, you can bet your bottom dollar it'll be the talk of parties that so-and-so's dept wasn't consulted and now their boss has their nose out of joint because....blah blah blah because "you know, it's procedure! we SHOULD have been consulted". so start a facebook page already...
Point is, I have NO CONFIDENCE in the State Govt to deliver. Zero. Nix. Nada. And even IF (and that an IF the size of that stupid ferris wheel) they did have the gumption to get it done, the Feds would cut their GST revenue to a trickle - almost like an embargo on funding.
i think Bill Marmion should visit Big W and look for some more shoes, it appears he's outgrown his.