LWP Group to Deliver 1500 New Homes in $350m Deal
Up to 94 hectares of land developed across three state landholdings in Casuarina, Forrestdale and Treeby will be developed in a $350 million deal.
The collaboration between the Western Australian government and private industry partners will see the roll out of 1500 lots developed for housing in Perth’s south-east metropolitan region.
Land developer LWP Group is project partner on the development of Perth’s south metropolitan sites.
Housing Minister Peter Tinley described the project, a partnership with the private sector, as an “urban development” that would deliver affordable housing for people on low-to-moderate incomes.
“These developments will provide an ongoing supply of affordable housing land in the south metropolitan area,” he said.
Tinley said state government is continuing to work with the private sector to increase the supply of new housing, with a “focus” on the affordable end of the market.
LWP Group has also partnered with state government on the Hesperia Precinct in Ellenbrook’s town centre, around 30 kilometres from Perth’s CBD.
Building activity in Perth has experienced challenging conditions over recent years, largely due to the slowdown in the resource sector.
The latest housing figures by Domain show Perth’s house prices have continued to slump, recording a 1 per cent drop for the September quarter to $527,107, while down 2.4 per cent year on year.
