Karratha's bid to stimulate the housing market hits a snag and leaves residents divided

  • 📰 abcnews
  • ⏱ Reading Time:
  • 61 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 83%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

A local government housing program to combat skyrocketing rents in Karratha divides the city.

Letters of support were also received from Karratha Central Healthcare and disability organisation Empowering People in Communities .

"Typically we employ a lot of people working in community services as support workers who do not earn a high income."I don't think it's going to ruin the market in terms of rental [investments]; bringing it back to normalised levels is a great thing."All the necessary infrastructure of water, power and land development for more housing was delivered as part of the previous government's Royalties For Regions program.

It will be releasing a prime lot in the centre of town for mixed development, up to 35 dwelling lots in Baynton and Madigan Estates, and inviting proposals for more development at Tambrey Neighbourhood Centre. A new display village will be built at Madigan to show potential buyers the range of options for owner-occupiers.Real Estate Institute of WA president Damian Collins believed the $35 million would not affect house or rent prices.

"The best thing the government can do is make sure there's plenty of land available and get approvals through quickly." In a statement, the Department of Communities said it was conscious of the renewed growth cycle in Karratha stemming from increased activity in the resources industry.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Buyer confidence coming back' to housing market | Sky News AustraliaThere were 2,500 houses up for sale over the weekend with a clearance rate at auction of 77 per cent, showing a strengthening market.\n\nSky News business reporter Edward Boyd said “if we look back just one week ago it was 1,600 houses for sale, so more and more houses are coming onto the market”.\n\n“We’re seeing a lot of buyer confidence coming back”.\n\nImage: Getty\n Are you reffering to the 823 auctions scheduled in Sydney. Of which 466 reported as sold. 56% clearance rate. Yes all Landlords pity the first home buyer didn't get those tax breaks.
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Aussie dollar hits 11-year low as market drops $50 billionInvestors have been spooked by warnings that the coronavirus will restrict trade on Australian commodities like iron ore. I guess that will be good for our exports? Wow, that will stimulate economy as well as pathetically low interest rates... not Gold is up
Source: 9NewsAUS - 🏆 10. / 72 Read more »