QUBE Property will this week launch a 110-lot residential housing estate in a key Wanneroo location, which has been identified by the State Government as one of the State’s high demand, low supply population growth zones.

The competitively priced new home sites, which range in size from 313-450 sqm, are located minutes from the town centre of Wanneroo, with the first release scheduled for August 6.

The City of Wanneroo is one of the fastest growing local government areas in Australia and attracts in excess of 8000 new residents annually.

While Perth remains relatively affordable, the median house has rose again in July as demand continues to outstrip supply, with industry experts anticipating it could move above the $1m mark by the end of the 2025 calendar year.

The suburb of Wanneroo currently boasts an annual capital growth rate in excess of 23%, well in excess of the Perth average which currently sits just above 13%.

The 110 lot Valencia Estate is expected to attract a significant percentage of first home buyers, currently receiving a raft of State Government purchasing incentives, and is located within close proximity to existing local amenity and infrastructure.

QUBE purchased the 7.3-hectare former market garden site comprising three adjacent lots from a single land holder in 2021.

The 110 designated lots will be released over four stages with the initial limited release of 23 lots on August 6.

QUBE managing director, Mark Hector, said that the area had been undersupplied for years, with the group anticipating strong demand for a limited number of sites as Perth’s housing supply issues continue to show no signs of easing.

“This is a very well-located site just minutes from the Wanneroo town centre with all of its existing amenity and infrastructure, close to the Joondalup city centre and only 26 minutes to the Perth CBD,” Mr Hector said.

“We have only had advertising signage on the site for the past few months with no active marketing as yet and already we’ve received a significant number of expressions of interest which indicates the level of interest and activity we expect to see post launch later this week.”

Named Valencia Estate as a pointer to its market garden and orchard heritage, QUBE has also entered into an agreement with the Water Corporation to provide the much-needed waste water pump station on a nearby site to service up to 2000 households including those at Valencia.

The Wanneroo area has been highlighted by both the State Government and the Urban Development Institute of Australia (UDIA) as a key growth area for future land projects to meet ongoing demand in Perth’s rapidly growing northern corridor.

Recent UDIA figures showed the sale of 11,168 lots in the Perth metropolitan area last year; a 38.5 per cent increase on 2023 which exceeded the previous record of 10,189 lots, set in 2013.

Mr Hector said he expected demand in Perth to continue to exceed supply as WA continued to have the highest rate of population growth in the country alongside Queensland, an unemployment rate well below the national average and a robust economy driven in large part by a strong resources sector.

“While we’re currently experience external ongoing global volatility that is impacting many markets, the fundamentals for WA remain strong, which is why we continue to attract migration levels in record numbers, and which means that we are currently unable to match land and housing supply to meet demand.

“This is a very well-located site with easy access to existing surrounding infrastructure including shops, parks, schools and sporting facilities and still within easy reach of the city.

“Valencia  will be well serviced and competitively priced to appeal to the first home buyer market but also to those looking to become part of a well-established, well-serviced local community.

QUBE notches up 30 years in business this year and is well known for its sought after residential homesites, its ability to secure land parcels in key, high growth Perth locations and its long term, consistent ownership and management team.