A new business division launched by Colliers International will tap into the strong demand for a residential subdivision service in Perth’s metropolitan area.
Colliers International’s Director Residential Sales and Development Consulting Erwin Edlinger said the division could deliver a whole of life cycle to residential subdivisions and would be pitched at small and medium-sized developers and private landowners.
“With this new service, Colliers International can provide an end-to-end service to residential landholders who want to move forward with their subdivision plans and start lot sales,” Mr Edlinger said.
“It can provide site acquisition, development consultancy, the appointment of joint-venture partners, and extend through to sales and marketing.”
The expansion coincides with early signs of a recovery in WA’s land market with new land sales increasing for the third straight quarter.
According to the UDIA, close to 1500 lots were sold in the June quarter, a rise of 3.8 per cent compared with March.
Mr Edlinger said plans for the division had been underway for some time and had been kick-started by the recent recruitment of subdivision expert David Gibbons, who would help steer the broader focus in WA’s residential market.
“David has taken 4,000 WA lots to market and during his 20 years in the land development industry, has established an extensive network of new home builders and their display home sales force,” Mr Edlinger said.
“With weekly visits to sales representatives at display homes, David will be able to drive land sales by helping to connect new home buyers with land subdivisions.”
Despite the increase in sales activity, Mr Gibbons said Perth’s average lot price in the June quarter was down 1.7 per cent to $230,825.
“The land market is either at the bottom of the cycle or close to it, and with net migration growing after a brief decline, and buyers recognising value in the market, we are expecting sales to slowly recover,” Mr Gibbons said.