Stockland’s $171m Illyarrie estate in Sinagra to boost infill housing supply in growing northern suburbs

A new estate in Perth’s northern fringe is being spruiked as infill housing, with lots as small as 150sqm mirroring inner-city trends. On Tuesday property developer Stockland launched plans for Illyarrie, a $171 million residential community in Sinagra, 25km north of Perth’s CBD. It will boost housing supply in the fast-growing northern corridor by 472 lots, and is set to become home to about 1500 residents. But in a sign of Perth’s changing property market, it will not be filled exclusively by big lots, as occurs in most fringe estates. The estate will offer lots as small as 150sqm and up to 510sqm, with some offering elevated views of Lake Joondalup. Stockland general manager, WA residential, Col Dutton, said the estate was in an established area, and qualifies as infill housing. “With its central location that is close to jobs, transport and recreational facilities, Stockland Illyarrie will appeal to a range of buyers, from first-homeowners to growing families,” he said. “Importantly, Stockland Illyarrie is in an established area, in line with Stockland’s strategy to contribute to the development of quality urban infill housing across the Perth metropolitan area. “The community is surrounded by an established town centre less than one kilometre away, six local primary schools, four local high schools, and a university nearby.” The estate includes a Stockland Halcyon community development for “seniors,” with 152 homes set aside for those aged over 50. The estate also has land earmarked for a future Sinagra primary school and a proposed childcare centre. There will be 4ha of open space including parks, a playground and walking trails. Mr Dutton said Illyarrie was Stockland’s fifth residential community in Perth’s north. “The launch of Illyarrie is an important part of Stockland’s wider strategy to help address the undersupply of titled lots in high growth regions of Western Australia,” Mr Dutton said. “As population growth outpaces housing supply, Stockland is delivering more than 14,700 lots (including those in the pipeline — in communities across Perth. “Illyarrie epitomises the type of communities we feel best meet changing household needs and support population growth.” . The Eastern States’ investor trend has claimed another industrial property, with a private group from the east buying a multi-tenanted industrial office and warehouse complex in Welshpool for $3.05m. The freehold property, which has an initial yield of 4.4 per cent, received more than 80 inquiries and eight offers. Cushman & Wakefield’s Alec Di Lollo said bidders included a mix of speculative owner-occupiers with medium-term occupation strategies and national investors. “This underscores the depth of the investment market, particularly in the sub-$5m price range for core opportunities,” he said. Cushman & Wakefield’s Emma Quill said there was a “a sustained interest in Western Australia”. “The rising cost of debt and fluctuations in interest rates have led to a more cautious investment environment throughout 2023; however, investor interest remains robust in WA,” she said. “This latest sale clearly reflects the resilience and attractiveness of well-positioned properties with growth potential.”

Stockland’s $171m Illyarrie estate in Sinagra to boost infill housing supply in growing northern suburbs

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