HIGHWAY TO HEAVEN

The opening of the Perth to Bunbury highway will have a ripple effect on the South-West property market, according to OrangeTee Real Estate managing director Corrado Cusma. He said the extension of the new Forrest Highway was the most expensive road infrastructure project in the history of W.A, costing more than $700 million. "New public infrastructure has been a key driver of property values and this new highway is no exception to this golden rule in real estate," he said. "While much focus has been placed on the impact that the opening of the highway will have on the Bunbury area, it will also have a positive impact on many areas in the South-West by dramatically cutting travelling time to Perth. "The new highway will cut 30 minutes off the travelling time between Bunbury to Perth and this will make areas farther south of Bunbury even more accessible for people living in Perth".

Over the next six months, the opening of the new highway will have a positive ripple effect on property values in areas surrounding Bunbury. "Busselton and Dunsborough should benefit because a large number of Perth residents buy invesnnent or holiday properties in these areas. Inland towns such as Collie and Donnybrook should also benefit. In particular Collie, which has a high level of social infrastructure that has been attracting a large number of retirees and well as investors in recent years because property values in the area are very competitive. The new highway should accelerate this trend."The full impact of the highway , will not been fully realised until the peak summer months when the South-West becomes popular holiday destination for Perth residents". Property values in many SouthWest towns have undergone a market correction over that last 18 months and are very competitive.

The new highway will boost the South-West real estate market especially during the coming summer months by stimulating interest in local real estate. "Anyone who is interested in buying in the South-West should bring forward their plans so they can capitalise on market conditions before the full impact of the new highway is felt".