Developer and builder Summit Homes Group has acquired $40 million worth of land spanning 180 lots across WA as part of its program to speed up housing supply.
Launched in November, Summit’s Velocity program is aimed at delivering affordable house and land packages at a fast pace for a range of markets.
Group general manager Cameron Lade told Business News there were 388 houses in the pipeline for Velocity.
Some blocks are as small as 130 square metres and prices range from $600,000 to $1.2 million.
“The affordability piece is relative to the area and the estate,” Mr Lade said.
“We’ve got … [estates] all over Western Australia, so it’s trying to make sure that we reverse engineer the pricing to try and hit a price point … what home is best suited on that particular block in that particular estate.”
He said Velocity was aiming to drop build times from 15-16 months to just nine months.
“With Velocity they’re all predetermined and they’re generally on smaller lots as well, where it’s more important to have the design done because of the energy efficiency requirements and the change in zonings, and so forth, to have it all done up front can save a lot of time,” Mr Lade said.
The acquisitions include residential lots in Harrisdale, Thornlie, Golden Bay, Treendale, Karratha and Onslow.
Estates in Dalyellup, Wellard and Yanchep have sold.
There are also plans for estates in Alkimos, Jindalee, Forrestfield, Golden Bay, Harrisdale, Margaret River, Thornlie, Byford, Hilbert, Madeley, Treendale and two in Eglington.
Mr Lade revealed Summit was planning on building 52 townhouses on Fifth Avenue in Rossmoyne.
“In a normal property market, which is not now, only 10 per cent of people really ever build a new home, … so I guess what we’re doing is wanting to appeal to people who don’t think about building, who are a bit daunted by the whole process, by pre-curating the packages, whether they be completed or home and land packages,” he said.
Summit has been partnering with other developers like Stockland to deliver the estates.
Summit has also been involved in the recent purchases of properties through the entity Summit Maylands, according to RP Data.
In the last two months, Summit bought four properties at 160 Carnarvon Street in East Victoria Park and one property at 2 Somersby Gardens in Currambine.
Mr Lade explained these purchases were designed to house Summit’s skilled workers from overseas.
The developer is aiming to hit 2,500 starts by 2028, up from 2,000.
To support the expansion of projects, Summit has invested $8 million in skilled migrant labour, including recruiting, training and housing.
More than 100 tradies were expected to have been brought into the state by Summit before June.
This article originally appeared in Business News.
