As reported by Eric Pryne of the Seattle Times, an Australian home builder is making a big move into the Seattle real estate market. By building 500 homes in the area, it will immediately become one of the largest builders in our market.
New construction starts have been down significantly in recent years, and as the inventories have dropped, significant opportunities have opened up for builders-at least those with the assets to begin building once again.
From the article: One of Australia’s largest homebuilders is jumping into the Seattle market. Henley Properties said Monday it plans to build 500 houses in King, Snohomish and Pierce counties by the end of 2012. That would make it one of the area’s largest builders.This is the firm’s first U.S. venture. “Henley is making a bet the region is poised for recovery,” said Peter Hayes, the company’s managing director.
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