Lithium pant already boosting South West real estate market

Stuart McGuckinSouth Western Times
PSA Construction's Peter Andrews will work with a Perth developer to build a number of new units on subdivided lots in Bunbury.Picture: Stuart McGuckin
Camera IconPSA Construction's Peter Andrews will work with a Perth developer to build a number of new units on subdivided lots in Bunbury.Picture: Stuart McGuckin

Albemarle’s lithium processing plant is already providing a boost to the South West economy as new buyers and developers have entered into the region’s real estate market.

Developers from outside the region see Bunbury and the surrounding areas as a prime place to invest ahead of 500 permanent jobs being generated by the Kemerton plant once it is reaches capacity.

PSA Constructions Peter Andrews said he was already working with a developer from Perth to build units on a subdivided lot in South Bunbury.

“He told me that he wanted to invest in the area and wanted me to go pick a block to work on,” he said.

“We’ll get two units on the back of the one I’m working on at the moment, he will then sell them and continue to build in the South West.

“He’s just going to keep building here because he believes there will be plenty of demand because of the lithium plant.”

LJ Hooker Bunbury principal Brent Spooner said the lithium plant as well as the mine at Greenbushes were both bringing big workforces to the area.

“The market has been flat for the past four years but we predict that this will bring more business into town,” he said.

“In the last few months we have seen investors from interstate buy and show interest in the area.”

He said properties less than 10 years old and priced below $400,000 were in high demand for first home buyers and small families.

“Small development blocks, duplex and triplex sites are also highly sought after in the south and east of Bunbury,” he said.

Mr Andrews said in recent years most of his work had involved doing renovations instead of building new houses.

“People have been sitting tight by just renovating, but things have really started to pick up on the building side of things,” he said.

“New builds are much more profitable from my perspective and working with a developer will keep me busy because he wants to double what he’s doing each year.”

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