June 2024 Celsius Land Update
June 2024 Celsius Land Update
The land market remains strong with land releases generally selling out upon release, particularly in the south eastern corridor of Perth where Celsius’s land developments are located. Our experience to date is that people are buying to build themselves and we haven’t seen much speculation in the land market to date. The established housing market remains extremely tight with buyers still finding relative value in house and land packages despite recent price increases. Many existing home owners have built up significant equity in their home over the past few years and are using this equity to build. This is making it increasingly difficult for first homebuyers to afford a house and land package (or any home for that matter).
Project Update – Jayes Road, Piara Waters
Following the issue of titles on 20 May for stage 1; all 41 lots in this stage have now been sold and settled. We are pleased with this result which reflects how keen buyers are to commence construction of their new home. Landscaping of the park is due to commence on 29 July which will include the planting of 210 trees in addition to the existing trees retained within the park and additional trees to be planted in the streetscape. The park will also include play equipment, turf kick around area and picnic facilities.
Stage 2 civil works are well underway and due for completion in September 2024. Stage 2A was released for sale at 9am on Friday 28 June and consists of 14 residential lots. If you are interested in purchasing one of these properties please contact Steve Smith on 0419 903 648 or Tim Grose on 0416 004 492.
Project Update – Lot 102 Arabian Court, Champion Lakes
Engineering design work is continuing on the project in response to comments from the City of Armadale. Financing and management plans are continuing to be progressed in readiness for construction with the project team working towards a construction commencement in late July.