The highly competitive real estate market in Western Australia (WA) has not slowed the acquisition of land needed to expand the country’s western softwood timber estate.
In September 2021, the McGowan Government announced a record $350 million (A$), 10-year investment in the expansion of the state’s softwood plantation timber estate. The plan sought to ensure 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, which was passed in June 2022, allows the Forest Products Commission (FPC) to purchase freehold land and trade in carbon. Since the amendment passed, seven properties have been purchased, providing nearly 3,000 hectares of additional land for pine plantations. In addition, several other blocks of land are currently under negotiation, and the FPF will continue discussions with real estate agencies and private landowners to identify and place purchase offers on sustainable properties that meet the scope of the expansion project.
Working hand and hand with the land acquisition process, FPC nursery workers and silviculture teams are planning for the 2023 planting program and ramping up for the increased planting program going forward.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.