First stage of land release program finalised

25/12/93

Over 500 additional housing lots will come on to the market within the next nine months as a result of a State Government initiative aimed at increasing the supply of residential land.

Planning and Housing Minister Richard Lewis said today that Homeswest had finalised negotiations on the sale of the first stage of the Government's land release program.

Mr Lewis said the sale of three parcels of land - totalling more than 40 hectares - in the suburbs of Koondoola, Port Kennedy and Beechboro had yielded Homeswest nearly $4 million.

He said the money would stay with Homeswest and would be used for the construction of new rental homes.

"The first stage of this program has been completed in just three months and will go a long way to ensuring the steady supply of new residential land on the market," Mr Lewis said.

"It will also generate much-needed funds for Homeswest which it will use to build homes for the more than 17,000 people on its waiting list."

The Government's land release program is in line with a recommendation within the second volume of the McCarrey report into public sector management.

The scheme is aimed at reducing State Government involvement in the land development industry through the sale of land held in the land banks of Homeswest and LandCorp.

In a bid to stop speculation, Mr Lewis said the successful tenderers would have nine months in which to have the land ready for development or be forced to sell it back to the Government.

Mr Lewis said the program had resulted in the mergence of three new developers into the residential housing market.

The successful tenderers are Uzbeck Pty Ltd, Wesville Contractors and Statewise Pty Ltd.

The second stage of the program was announced last week and involves more than 70 hectares in the suburbs of Bibra Lake, Warnbro, Caversham and Queens Park.

Media contact:  Paul Plowman 222 9595