Water connections fees slashed for developers
Investors developing property in Western Australia have been handed a welcomed gift with the cost of water connection being slashed by nearly half.
Under the changes, the state’s water supplier, Water Corporation, will reduce charges applied to providing water to new developments or subdivisions by 47%.
For a standard lot, the cost would be reduced from $4,064 to $2,150 per lot – a saving of approximately $1,914.
The reduction is great news for all property investors with the impost being a considerable cost, particularly on smaller developers.
The savings has been slightly offset, however, with wastewater charges to increase by 71%, from $1,363 to $2,334 – an additional $971.
The changes, which took effect on July 1, 2016, were foreshadowed in the 2016/17 State Budget which was released in May.
The changes reflect a reduction in costs incurred by the Water Corporation, which has been working closely with industry to reach the outcome.