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MEDIA RELEASE - Casterton experiences $18 million development boom

26 September 2018

Casterton’s economy is on the move with a staggering $18.6 million worth of investment committed to the district over the past 12 months and real estate sales setting new benchmarks.

Last night’s Glenelg Shire Council ordinary council meeting in Casterton heard that the township was experiencing significant economic, social and cultural investment which was assisting to strengthening the township, making it an even more desirable location to invest and call home.

Significant works in the town include the opening of the $1.6 million Australian Kelpie Centre and $14 million Edgarley redevelopment, the biggest single capital investment in the shire of the past decade.

Furthermore, $1.8 million has been spent rejuvenating Island Park following the Spring floods of 2016 whilst a planning permit has been lodged for the creation of a new $1.2 million CFA station.

Mayor Cr Anita Rank said it was a boom period for the town that was also experiencing significant increases in tourism trade.

“In the first month the Australian Kelpie Centre opened its doors, visitation grew by 126 per cent comparing other winter seasons – an outstanding result and testament to the vision and hard work of the hard working volunteers who campaigned for this centre over a 20 year period,” Cr Rank said.

“There is no doubt this profile, which council is working hard to promote, is helping to put the town on the national touring route and furthermore assisting to appeal to tree changers, looking for a relaxed regional lifestyle whilst having access to the best healthcare and recreation amenities.”

Cr Rank said more than 46 residential properties had been sold in the township during the past 12 months, with a large percentage of metropolitan buyers fuelling the growth.

“As a result the median house price has climbed 25 per cent to $155,000 during this 12 month period. This has been buoyed by the arrival of new business owners, and the creation of new start-ups to add further strength to CBD trade,” Cr Rank said.

“The Casterton saleyards also continue to be a hub of economic activity with more than $10 million worth of sales last season. This included the sale of more than 8700 cattle and 12,600 sheep with buyers continuing to be attracted by the high quality of stock on offer.

“These trends are expected to grow over the busy spring and summer selling period, as drought effected affairs restock, with buyers continued to be attracted by the high quality stock on offer.”

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