Margaret River housing shortage drives early release of Spindrift estate Stage 2 lots

The ongoing housing shortage in Margaret River has prompted the early release of Stage 2 lots at the picturesque Spindrift estate, with record buyer interest resulting in 50% of the lots being sold within the first week.

Gareth Wilson, Goldfields State Director in WA, attributed the strong demand to Margaret River’s record low vacancy rate, soaring rents (up 29.8%), surging population, and acute worker accommodation shortage, which have attracted both local buyers and Perth-based investors.

“The annual population growth rate in the Shire of Augusta-Margaret River has been double and sometimes triple the percentage growth rate recorded across Regional WA for the past decade,” Wilson said. “This has caused an acute housing shortage and thus a challenging rental market, leading those looking for a home to take a longer-term approach.”

The first release of Stage 2 features premium lots located next to the estate’s West Park, with prices starting from $170,000. The lots range in size from 361sqm to 723sqm, offering a diverse range of options for families looking to build their dream home.

Spindrift estate, located 3km south of Margaret River, is surrounded by nature walks, beaches, and several of the nation’s finest wineries. The 47ha site is bordered by a developed community to the west, established Karri trees to the north and east, and expansive parklands within.

For parents Shannen and Harry Hick, Spindrift offered a rare opportunity to design and build a big family home in a vibrant regional town surrounded by nature. “We’ve been looking for the right fit for our family across the South-West for some time and knew this was home as soon as we visited the estate,” said Shannen.

Local buyer Victoria was drawn to Spindrift for its affordability and proximity to the Darch Trail, schools, and her favourite beach, which is just a ten-minute drive away.

Spindrift estate is centred on a strong sense of community and offers all the amenities expected of a contemporary estate, including immediate access to neighbouring parks and playgrounds, schools, shopping strips, cafes, restaurants, and medical facilities.

Lots in Stage 2 are expected to be titled in September 2024, with the estate located at 104 Brookfield Ave, Margaret River.