The remaining 18 vacant lots in what has been dubbed the ‘Collie Land Grab’ were sold at auction at the weekend for an average price of $45,388.
Housing and Works Minister Francis Logan said half the lots were more than 1,000 square metres. The smallest lots were 700sq.m.
The highest price paid was $73,000 for a 1,136sq.m block.
“There was a lot of interest with more than 150 people attending the auction and there were very real bargains to be had, as has happened every year since the annual Collie Land Grab auctions started back in 2000,” Mr Logan said.
The annual auctions started after the Department of Housing and Works had difficulty selling off 115 surplus lots in Collie at a time when the town was suffering an economic downturn.
“The auction is tangible evidence that Collie’s economic fortunes have turned around and that the people of the town can look forward to a buoyant and successful long-term future,” the Minister said.
The first auction of 20 lots, which coincided with Rally Australia in Collie in November 2000, was very successful - lots sold for an average $4,000 on a minimum reserve price of just $1,000.
Every year since then, Collie River Valley Marketing Group have auctioned 20 lots, with the price per lot rising each year.
Last year, lots sold for prices ranging between $11,000 and $35,100.
“This year, all 18 lots were sold within 90 minutes, fetching a total of $817,000,” Mr Logan said.
“The successful bidders are happy because they bought well and the Shire of Collie is pleased because the lots will attract new residential development to the town.”
The Minister will be visiting Collie, and nearby Yarloop and Brunswick, next week to inspect public housing stock and discuss housing issues with Collie MLA Mick Murray.
Minister's office: 9222 8950