The final release of the state government position statement on the delivery of ‘small lots under 100m2’ in Western Australia is welcomed as another step toward greater affordability and more diversity of housing choices for buyers according to the Urban Development Institute of Australia (UDIA WA).
“The development industry has been leading the way in delivering more affordable product to the market in WA to meet consumer demand,” UDIA WA CEO Tanya Steinbeck said.
“This type of compact product is just one option that can help to provide quality housing at an entry level price to suit first home buyers, empty nesters, downsizers and investors,” Ms Steinbeck said.
“The new policy should facilitate a broader roll out of these lot types in more areas,” Ms Steinbeck said.
“It is important that as an industry, we deliver quality outcomes for the community and showcase how smaller, higher density living options can meet a growing need among home buyers in both established and new areas,” Ms Steinbeck said.
The position statement is specifically in relation to green title lots sized under 100m² but larger than 80m².
The first small lot trial that was released to the market in Ellenbrook in WA was very successful last year.
“We can see from the successful launch of these compact lots in Ellenbrook that the market in WA is ready for this type of product,” Ms Steinbeck said. “Despite the current market downturn, we must continue to address affordability and changing buyers needs.”
“It is important to note that homes on these lots are specifically designed to maximise the small land size and should be located close to public open space, public transport and other amenity and services to compensate for the smaller amount of private space,” Ms Steinbeck said.
“It is not just the lower cost of purchasing a smaller lot that makes this option more affordable,” Ms Steinbeck said. “Easy access to transport and other services means that the longer-term cost of living is cheaper and therefore overall affordability is addressed.”
This policy will also assist in facilitating smaller lot product around METRONET stations.
“In new areas, developers are able to integrate this product into the overall design of a project so that they are in the best location and provide a mix of housing options to buyers,” Ms Steinbeck said.
“The fact these lots are green titled enables consumers the option to purchase small, without entering into a strata title arrangement, as they would with a townhouse or similar,” Ms Steinbeck said.
Ends.
For more information:
Gemma Osiejak
Executive Manager Communications and Marketing
UDIA WA
P: 0421 506 819
E: gosiejak@udiawa.com.au