Goldfields launch Margaret River land estate, Spindrift
The national property developer Goldfields is already seeing high demand for it's maiden Western Australia land development, set in the heart of wine country, Margret River.
The 47 hectare masterplan, called Spindrift, will be officially unveiled this month.
Construction has begun on the 423-lot project, three kilometres south of the Margaret River town centre in WA's South West area.
Spindrift is surrounded by a developed community to the west and established Karri trees to the north and east. The first release of land will have prices starting from $194,500.
Gareth Wilson, Goldfields General Manager in WA, said Spindrift was perfectly positioned within a short drive to town while still having access to the natural beauty of Margaret River.
He said the development’s larger lots, intelligent design and landscaped reserves would make it highly sought after in a constrained local real estate market.
“Margaret River offers a unique opportunity to live in one of Australia’s most picturesque and renowned destinations and continues to be one of the most sought-after regions in WA,” Wilson said. “Housing demand has continued to outweigh supply in Margaret River which is testament to the attractiveness of the South West lifestyle.
“Spindrift will play a pivotal role in meeting short and medium term demand for housing in Margaret River.”
Spindrift is centred on a strong sense of community, where residents can immerse themselves in nature while still enjoying the comforts and amenity of modern life. It will offer all the amenities expected of a contemporary estate, including immediate access to neighbouring parks and playgrounds, schools, shopping strips, cafes, restaurants and medical facilities.
Brook Palmateer, Associate Director at Acton Belle Property in Margaret River, said early interest levels in Spindrift were on par with that seen at larger, metropolitan housing developments.
“Interest is coming from a wide variety of people, but particularly local homebuyers,” Palmateer said. “That early interest has been all the greater because there are very few blocks on the market in the region at the moment.
“Everything has sold, there is hardly anything titled on the market and the only things that are titled at the moment are on very steep blocks that are harder and more expensive to build on. We have a significant lack of stock at this price point for people to choose from, across the whole South West region but particularly in Margaret River.”
The Augusta-Margaret River Shire recorded a sharp 17.8 per cent increase in population from 2016 to 2021 in Census data released by the Australian Bureau of Statistics. The estimated local population of 17,298 represented a year-on-year increase of 2.85 per cent compared to 0.93 per cent population growth in Regional WA more broadly.
According to the Real Estate Institute of WA (REIWA), there were a total of four properties advertised for rent on reiwa.com on 31 October 2022. In October 2021 there were two, and in October 2020 just one.
“We have a housing crisis in Margaret River and the surrounding region at the moment,” Palmateer added. “People cannot find anywhere to live – there is nowhere that is suiting them to buy, there’s no land to build on and we’ve got a rental shortage, and almost zero percent vacancy rate.
“80% of the walk-ins to our office are people looking for rentals. Margaret River in particular, closely followed by Dunsborough, are in the highest demand. Not only are a growing number of people keen to move here and enjoy the beautiful lifestyle now that they have more flexibility with working arrangements, but there are a lot of local people that are looking for housing as well, people that have been here 20-30 years. It is across the board.
“Spindrift is ideally situated to address this significant need for more housing in Margaret River and it is doing so at a great price point, in a central location close to amenities and all the natural beauty the region has to offer. This land will be snapped up swiftly.”