Further residential land in Kalgoorlie next year

8/12/93

First home buyers could find land more affordable with the release of further residential blocks in the Kalgoorlie-Boulder area next year, Lands Minister George Cash said today.

Mr Cash said the land release taskforce had indicated 240 lots would be available early in 1994.

Meanwhile an additional 55 blocks in North Hannans would be auctioned by the Department of Land Administration (DOLA) on Saturday.

These releases would bring the total number of residential lots released since July 1 this year to 574, including 144 by private developers.

"I am aware young couples and first home buyers are presently finding it difficult to meet the prices caused by the demand for land in Kalgoorlie-Boulder," Mr Cash said.

"While strong interest is expected in the North Hannans blocks on Saturday, the 1994 releases should significantly ease the shortage situation, taking the heat out of the real estate market in Kalgoorlie and resulting in more realistic prices."

Mr Cash cautioned land-buyers against spending more than they could afford on the North Hannans land, advising them to wait for releases in the Boulder Golf Course and airport subdivisions next year.

Kalgoorlie-Boulder Mayor Ron Yuryevich and Kalgoorlie-Boulder Chamber of Commerce president Esther Roadnight agreed with Mr Cash, saying that in less than a year the city would have a big choice of quality housing land.

Mr Yuryevich said the council would have the first 30 lots of its airport subdivision ready for market by the end of January and he expected a further 168 housing lots and 20 larger blocks to be released by mid-1994.

"The first 30 lots will be sold by public auction and the next 168 by ballot," he said.

"The prices will be set by a licensed valuer and the public will be invited to nominate the block of their choice.  If more than one application is received for a block, the choice will then be made by ballot.

"If this does not fill demand, the council has another 250 housing lots available."

Mrs Roadnight applauded the council's decision and supported Mr Cash's comments that potential buyers should not buy in haste at the North Hannans auction.

Media contact:  Caroline Lacy 222 9595