A STAGGERING $18.6m worth of investment has been committed to the Casterton district over the past 12 months and real estate sales have set new benchmarks, while livestock markets have thrived.
This month’s Glenelg Shire Council meeting heard Casterton was experiencing significant economic, social and cultural investment, which was strengthening the township – making it an even more desirable location to invest and call home.
Significant developments in the town include the opening of the $1.6m Australian Kelpie Centre and $14m Edgarley redevelopment, which is the biggest single capital investment in the shire over the past decade.
A further $1.8m has been spent rejuvenating Island Park following the spring floods of 2016 and a planning permit has been lodged for the creation of a new $1.2m CFA station.
Meanwhile, the Casterton sale yards continues to be a hub of economic activity with more than $10m worth of sales last season.
The figure included the sale of more than 8700 cattle and 12,600 sheep.
Mayor Anita Rank said these trends were expected to grow over the busy spring and summer selling period as drought affected farmers restock, with buyers continuing to be attracted by the high quality stock on offer.
Ms 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 and visitation grew by 126pc compared to previous winter seasons,” Ms Rank said.
“It was an outstanding result and testament to the vision and hard work of the volunteers who campaigned for this centre over a 20 year period.
“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.”
Ms Rank said more than 46 residential properties had been sold in the township over the past 12 months, with a large percentage of metropolitan buyers fuelling the growth.
“The median house price has climbed 25pc to $155,000 during this 12 month period,” she said.
“This has been buoyed by the arrival of new business owner, and the creation of new start-ups to add further strength to the central business district trade.”
