Ord river scheme boosts real estate market in Kununurra

A major long-term boost is anticipated for the Kununurra Real Estate Market as works commence on Stage 2 of the Ord River Scheme according to Mandy Thorneycroft, licensee/director of Professionals Kununurra.
West Australian Premier Colin Barnett officially launched Stage 2 of the project on 14 May 2010, which involves the investment of $220 million to develop new agricultural land in the Weaber Plains area.
Stage 2 of the scheme will see 800 hectares of new irrigated land developed to add to the existing 14,000 hectares from stage one bringing to the Ord Valley 22,000 hectares of irrigated farmland.
The expansion of the Ord River Scheme is bringing an influx of workers to the area and this in turn is resulting in a growing demand for both rental and owner-occupier homes, according to Ms Thorneycroft.
“As well as the $210 million expansion of the Ord River Scheme, $195 million will be spent on improving housing, health, education and training in the local areas including the redevelopment of the Wyndham health facilities, expanding the Kununurra hospital, major upgrades to local educational and housing facilities as well as improvements to both Wyndham Port facilities and the Kununurra Airport Terminal. An addition 120 homes for social and transitional house is also planned. This massive new investment is set to economically and socially transform the East Kimberley in just a short period of time. Historically, major new infrastructure development has been a driver in the property market and the same trend is already occurring in Kununurra with a growing demand for real estate in recent months. In particular, Professionals Kununurra is finding very strong demand for new residential building lots in Kununurra which is underlined by the recent success of Stage 5 of the Lakeside Park Estate with just 14 of the initial 87 house and land package lots remaining for sale. To meet the increased demand for housing, 125 smaller/medium density building lots are expected to be released at Coolabah Estate near the town centre in the coming months as well as approximately 54 residential lots earmarked for release in Lakeside Park Estate Stage 6 later in the year,” she said.
Professionals Kununurra was opened earlier this year to capitalise on this massive new investment in the Kimberley and the associated growth within their real estate market. Ms Thorneycroft, who has worked in the Kununurra real estate market for several years, is supported by co-director Melanie Diffey and property management associate Natasha Bridson.
David Hobbs, CEO of Professionals Real Estate Group, added that the new Kununurra office was perfectly positioned strategically to take advantage of the expansion in this real estate market.
“We are delighted that Mandy, Melanie and Natasha decided to join Professionals and as CEO I have every confidence that Professionals Kununurra will become a major success in the West Australian real estate industry over the coming years,” he said.
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