But by far the most informative part of the day was listening to Damian Collins speak, here is what he had to say:
-Perth has moved on average 5-6% and up to 25% in selected areas (development sites)
-Under 500k sites moving
-Has slowed down, no of people at opens less
- Rents stable or decreasing slightly in some areas
-2011/12 rents rose 17%
-predicted over 2%pa growth
- some major projects in the pipeline light rail, new roads and overpasses etc as perth will get more and more congested like east.
Directions 2031 is in full swing
key strategies are
-key activity centres
-key transport links
-facilitation of infill
Directions 2031 want to see the spread out city of perth infill.
Want 47% growth in urban areas
And new subdivisions to be developed at 15% gross hectare 400-450sqm.
How:
Increase in zoning and rezonings.
Change in the r-code interpretation ie plot ratios being used.
Key metro areas
-Cannington
-Fremantle
-Morley
-Stirling
-Rockingham
Secondary Metro centres
-Belmont
-Booragoon
-Claremont
-Karrinyup
-Leederville
_victoria park.
Public transport 2031
Will see pressure on local councils to rezone around transport areas and light rail etc
State gov will have to force council to create infill.
Future opportunities:
Proposed rezoning areas ( no guarantees)
Wait until rezoned and pay closer to MV, as sometimes rezoning lots are now priced at zoned lots, poor value.
And rezoning doesn't mean the area will be developed, But could be a land banking opportunity.
cheers