MONTHLY COUNCIL MEETING
Council has voted to make available more land in the Keswick Estate following the success of previous stages of the development.
Council is confident the move to develop 50 residential blocks in Release 5 is achievable given that in Release 4 (27 lots) marketed in 2008/09 were all sold by July this year.
Mayor Allan Smith said Dubbo was home to a substantial building industry and this release will provide a further stimulus to the various trades.
“Housing is statistically very affordable in our City and the residential serviced land market has seen an increase in sales over the past 12 months,” Cr Smith said.
“With the majority of lots selling in the city recently for around $110,000 for an average lot, this release will aim at providing affordable lots, while keeping the premium housing level that currently exists.”
It was reported to Council that the pricing structure would enable Council to provide affordable land, while gaining the maximum market price for the higher quality lots in the Release.
“With past releases selling quickly Council is planning to satisfy demand while maximising the return to ratepayers.” Cr Smith added.
A detailed marketing plan for the sale of the new allotments will be provided to Council in 2010.
“It is important that we, as a community, do everything we can to ensure we maintain the strength of the residential building industry,’’ “It is also an important employment sector in the local economy.’’
MEDIA CONTACT: For further information, please contact Mayor Allan Smith on (02) 6801 4101 or 0418 639 053.