Plains Producer

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Plains Producer

$1.40

Wednesday July 15, 2009

STAR OF THE NORTH

Wattle Ridge residents’ concern:

CONCERNED Wattle Ridge residents in Boronia Circuit, the street where proposed low rental homes are being constructed. From left (rear) are Nicole Gregory, Roseann Dale, Chris Brownlie, Trevor and Marie Goodenough, Michael Pringle, Front: Kimberley Brownlie, Belinda Pringle and Harold and Brenda Philp.

Will it be low rent or lower values?

Locals have raised concerns of falling house values and decreased demand for existing rental homes in the wake of the announcement of 40 low cost rental homes to be built in two years. The homes, to be built by developer Colin Steinert and managed by Lutheran Community Housing, will be built in the Wattle Ridge housing estate, and rented to low income earners at a reduced rate.

By Lauren Parker But for those who have built or bought new homes in the development, it has brought concerns of falling house values. Owners of existing rental properties are equally concerned the development could result in high vacancy rates.

Mark and Belinda Pringle built their dream home in Wattle Ridge on Boronia Circuit, and according to Belinda, they have been told by a real estate agent the value has already dropped by 10 to 15 per cent. “We’ve put a lot of time and money into our homes and to have it drop out so quickly is devastating,” she said. Belinda said herself and several others

would not have chosen to build in Wattle Ridge had they known the affordable housing development was in the plans. On the same culde-sac of Boronia Circuit where the Pringles’ home is located are five existing homes and seven proposed rental properties. ■ Continued page 2

■ Developer’s comment – Page 3

CONTACT US: Internet – www.plainsproducer.com.au Email – editor@plainsproducer.com.au Phone – (08) 8862 1977 Fax – (08) 8862 1997

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