Margaret River’s Spindrift Estate sees rapid growth as buyers opt in to new land releases

Spindrift Estate is fast emerging as the litmus test for the Margaret River property market, with developers firing up their land release schedule in response to buyer demand.

Goldfields has gone early on its fourth-stage release of lots in the burgeoning subdivision east of Brookfield which the developers acquired in late 2022 after years of stagnation at the site.

The third early-lot release at Spindrift sold out in 48 hours, which comes after the Times reported earlier this year a voracious uptake for the vacant lots as buyers turned to building amid a shortfall of market-ready homes.

State director Gareth Wilson said inquiries from buyers were at their highest level since the first lots went to market.

“According to CoreLogic, Margaret River’s median house price has grown 11.4 per cent over the 12 months to March, placing its growth ahead of major centres such as Sydney, Melbourne, and Canberra,” he said.

“Margaret River’s record low vacancy rate of 1 per cent, soaring rents (up 29.8 per cent), and acute worker accommodation shortage were all major factors attracting buyers.”

The news comes as the region experiences strong population growth and a housing crisis.