Land owners and home builders including Aveling Homes in Perth are grouping together for further development in the real estate industry. A popular practice in West Australia is for land owners and neighbors to join together in order to develop a certain property as a group. This way, the profiteering will be in a collective level creating new wealth opportunities in the area. This will in turn help improve the shortage of long term housing in West Australia. This idea does not only make money for people but it at the same time promotes camaraderie and partnership in the community.
The Sunday Times (Perth Now) last month reported this popular new trend in the region. Land owners in Perth are getting together. Most of these gatherings happen in the outer suburban areas. It is in the suburban areas where development is ripe and there is an assured success of creating wealth through development of property. The Sunday Times published that the other month, there is reportedly 24 various land owners in the Byford area who were willing to sell their collective 66 hectares for about $40 million so that the area can be developed into something profitable.
This phenomenon has increased in popularity in that people across Perth including those living in the Southwest of Western Australia are collectively selling their properties for the benefit of many. Different neighbors are already subdividing their lands to be able to generate income in the short and longer term. This will be accomplished through property development or through on-selling of the land to investors and developers alike who are willing to develop the area.
There have been many land owners coming from Perth who went to Ventura in order to develop the several units in their land. There has been an increasing trend of neighbors coming together to develop large blocks of land.
A land owner who works with his neighbors sometimes found it difficult to be working with different people. He said that people in his neighborhood have different prices in mind and they have different expectations. However, he is still optimistic that they it will turn out well in the end.