We let the environment’s natural topography, materials, rocks, trees and other plant-life guide the design plan. These features are not only incorporated into it, they become the centrepiece creating communities where people love to live.Find out more
Land Report – COVID-19
24 October 2020
Shifts in the land development sector will always be market-led, and if our experience with …
Shifts in the land development sector will always be market-led, and if our experience with COVID-19 means improving the amenity in our suburban areas due to buyer demand, it will represent a very rare and positive outcome for the pandemic experience in WA.
Monument land estates have had a massive 5-fold increase in sales as a result of the Government’s response to COVID-19. We are seeing many in the industry fast-track the creation of new lots to keep up with demand – sometimes to an enormous capacity.
An important message for buyers is to make sure that these new lots carry the same integrity as those previously on offer, and that the release of new land will not negatively impact the purchase.
There are a range of long-term benefits to buying land in boutique developments, and the influx of new land due to COVID-19 may highlight the importance of this much sooner than expected.
Obviously COVID-19 has affected practically every aspect of life, how do you think this impact will be reflected in new land developments over the next few years? Do you see more emphasis being placed on open spaces and connection to nature?
As a boutique land developer, location, an abundance of open space and integrating the land’s natural features and typography into the estate design has always been an integral part of our development program. However, COVID-19 has most certainly shone a spotlight on just how incredibly important this is.
The impact of what has occurred around the world as a result of COVID-19 has made people reassess their lifestyle choices. They are looking at their own community and its access to nature, exercise options and reflective spaces through a different lens.
As a result, I believe land developers will lean even more towards providing improved facilities and outlooks, and buyers will always consider what the estate might look like should we go back into lockdown.
Are there any ways COVID-19 has already affected land developments?
It is too early to see any impact that COVID-19 might have on the design aspect of a land development, although the heightened sales activity off the back of generous Government stimulus grants and incentives has offered some insights into what buyers will be looking for into the future.
The most successful land estates during this period have been those with larger family sized lots and direct access to nature.
The heightened importance of our Hamelin Park beachside location at Secret Harbour, the proximity to the nature reserve at The Wedge in Wellard North, and the stunning hill-top coastal outlook whilst surrounded by majestic Tuart trees at Atop in Beeliar have been extraordinarily evident.
Do you feel buyers will be looking for certain boxes to tick in light of COVID?
The onset of lockdown effectively stress-tested our homelives and communities. It would be impossible, if not improbable, for buyers to avoid carrying these experiences into a new house and land purchase.
New home design is likely to be most impacted, with more space and breakout rooms, such as a study or second living area, on the ‘must have’ tick list. In turn, this will influence lot sizes as homesites will need to increase to accommodate the new requirements.
Other factors that I believe will now weigh heavily on a buying decision include easy access to public open space and amenities, a friendly, supportive and established community, and the ability to access the natural environment for some reflective and recreational time.
Where do you see the future of land development and are there any certain ‘trends’ that might appear?
Prior to COVID-19, there was definitely a trend that saw people move closer to the city and established areas. I believe this will continue as a result of lockdown, as people realised the issues relating to isolation and the importance of being near infrastructure and family.
The demand to be part of an infill land estate will continue to increase and land developers will take larger leaps towards providing an entire lifestyle package. Homesites will no longer be about the sheer size of the lot, there will now be much broader considerations at hand.
However, on the other end of the spectrum larger more rural lifestyle options will also become sought-after by some.
Comments by John Wroth, Director of Monument parent company M/Group.
The Wedge Creates a Children’s Wonderland
24 October 2020
Surrounded by natural wilderness, The Wedge by Monument in Wellard North is shaping up as a …
Surrounded by natural wilderness, The Wedge by Monument in Wellard North is shaping up as a children’s wonderland, with a modern playground and discovery walking trails scheduled for completion by Christmas, plus a childcare centre in the pipelines.
Arguably the most stunning residential environment located in Perth’s southern corridor, families have eagerly snapped up homesites in the estate’s Stage 1 and Stage 2 releases, leading developers to fast-track release plans for Stage 3 with lots to be available by the end of the year.
“Creating a boutique environment gives us license to add signature features throughout the landscape and dramatically enrich the estate’s lifestyle and culture offer. It also creates a point of difference in a market that is so commonly unvaried and lackluster,” he said.
“When families visit The Wedge, they immediately see why it will soon be the ‘talk of the town’. This is not only great for residents who enjoy the facilities, it means the value of the property will invariably sit above other locations.”
“With a primary and high school next door and the stunning and protected Bulrush Nature Reserve wrapping around the estate, it would be difficult to find a better place to raise children.”
The Wedge is located between the freeway and the ocean, and is close to public transport, medical facilities and shopping.
Stage 1 quickly sold out and families are already settling into their new homes. Stage 2 is 50% sold with titles due this month. The increased demand and continuation of Government grant incentives has resulted in the acceleration of the estate’s development program to allow more people to get a foothold on land in the estate sooner.
“The Government grants have had an enormous impact on land sales throughout Perth, although land estates that are perceived by buyers as more desirable have experienced greater demand. This is why we made the decision to fast-track our development schedule and bring forward Stage 3,” Mr Wroth continued.
“Unlike many developers, we have made a commitment not to alter our prices. This means homesites at The Wedge represent excellent value to everyone from first homebuyers to growing families looking to make the most of these great buying conditions.
“The Wedge is emerging as an incredibly special place, and why wouldn’t you want to live in a location with so many great natural and integrated children facilities.”
The Wedge, located on Bertram Road, Wellard North, comprises homesites sized between 344sq.m and 537sq.m with prices starting from $174,000.
For more information visit www.thewedgewellard.com.au or contact Damyn Strang 0434 070 654.
Is it time for a sustainable stimulus solution
30 July 2020
The Governments’ incentives to drive activity and growth in the property sector have been …
The Governments’ incentives to drive activity and growth in the property sector have been highly effective in achieving the desired outcomes. As a result, developers are calving through land stock to keep up with demand and builders are facing the pressure of delivering across the entire supply chain. So, is it time to look for a more sustainable and enduring model?
Boutique land developer, Monument, is facing the challenge of keeping up with demand more than most. The company specialises in high demand and limited supply land-sites located close to city in established areas– the likes of which will generally attract more attention to the buyer market.
Following consecutive government announcements to introduce a series of home building grants, the company was quick to experience a huge spike in interest and sales.
However, while the stimulus packages have been warmly welcomed by the sector, Mr John Wroth, Director of Monument parent company, M/Group, says it is time for the Government and industry to take stock and focus on a plan that supports the sustainable growth of the property sector.
“There has been an enormous response to the grants and incentives, and many land developers are running low of stock to meet the new demand. On the face of it, this is not a bad problem to have, although the pressure is now on to increase land production and deliver on home builds without impacting the cost to the buyer,“ he said.
“As developers fast-track new land stages, the question needs to be asked, what happens when the incentives slow down.”
Monument has recorded over 40 sales across its three boutique estates in the last month and has seen an increasing reliance on banks to speed up processing timeframes to meet the deadline driven requirements of grants. There are also fears that a pending lack of supply will create an imbalance in the market as the industry aggressively works to keep up with demand.
Mr Wroth believes the company’s predicament in achieving high sales volumes is not isolated and there could be risks associated with incentives being removed swiftly and without consideration of the impacts.
“The State and Federal Governments should be commended for acting quickly and decisively to stimulate the property sector. It is now critical for government and industry alike to consider the consequences of what happens next and what the impact will be on a sector that is so important to maintaining a buoyant economy,” he continued.
“There is an abundance of opportunities that could help to maintain the steady growth of the sector, including the slow pulling back of incentives, or even a capped program that is reoffered annually. The idea would be to continue the great work of government and maintain the growth of the sector in a measured and continuing way.
“This issue sits way beyond achieving good sales targets. It is something that will impact everybody.”
For more information visit www.landbymonument.com.au.