Discounted land to sell in hope of Dubbo property boom
Dubbo city council is optimistic that the discounted sale of land will boost the real estate sector in the regional city.
The ABC reports that Hibbard homes will purchase six plots of land that are owned by the council, at a cost of $5,000 less than normal.
Through this scheme, mayor Matthew Dickerson is hopeful that a precedent will be set and other developers will see an opportunity to buy property in bulk.
"People may not get exactly what they want every time, but at least council can see the value in this. But, it also is good to see more homes being built in Dubbo," he said.
The council's plan is to increase population in the Dubbo area as well as create local jobs.
It comes as RP Data reports that there is strong demand in the state real estate sector,based on recent data from the Australian Bureau of Statistics.
New South Wales and Queensland has seen strong growth in dwelling commencements in the last year, with graphs comparing new dwelling constructions amongst NSW, VIC and QLD showing NSW saw an increase from just under 6,000 to over 7,000 constructions of new dwellings.
The construction of units over the June quarter saw a three per cent rise over the ten year average, nationally.