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Real estate market progresses in Western Australia (WA) due to developed softwood timber estate

Real estate market progresses in Western Australia (WA) due to developed softwood timber estate

Posted on December 12, 2022   |  

In September 2021, the government declared a $350 million investment plan for 10 years in the expansion of the state’s softwood plantation timber estate.

The plan aimed to secure a sustainable future supply of timber for the WA construction industry and increase the state’s carbon sequestration.

The Forest Products Amendment Bill of 2021 was passed in June 2022, which allows the Forest Products Commission (FPC) to purchase freehold land and trade in carbon.

7 properties have been purchased, providing 3,000 hectares of extra land for pine plantations since the amendment passed.

At present, several other blocks of land are under negotiation, and the FPF will continue talks with real estate agencies and private landowners to identify and place purchase offers on sustainable properties that fulfill the scope of the expansion project.



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