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Australian property developer Peet has announced the further expansion of its existing Bluestone community. Picture: supplied.

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Mount Barker’s home-building industry is set for a bumper year, with one of the state’s biggest housing developers revealing plans to expand on its regional footprint.

A further 200 lots are set to be added to Bluestone Estate along Wellington Rd from mid-year, with property developer Peet announcing the release of its latest precinct Frederick Park.

The announcement follows updated population forecast predictions by Mount Barker District Council released earlier this year, revealing the region is growing faster than expected.

According to the data, the rapidly growing town is set to welcome an additional 1779 residents in 2024 and over 7000 new residents over the next five years.

It will take Mount Barker’s total population to 44,772 by the end of the year and up to 50,175 by the end of 2028.

A drone image of Bluestone in Mount Barker. Picture: Peet.

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Peet chief executive and managing director Brendan Gore said the latest land release came off the back of a year of significant construction activity.

“Located near Wellington Rd, it will include lots of varying sizes, to house everyone from singles and couples to families,” he said.

“It was also important for us to offer residents an outdoor area that served as a hub for activity while building on the existing nature of the surroundings.

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“It’s why we’ve committed to making over a quarter of this precinct open space, more than double the standard required size.”

Alongside the new housing lots – which will vary between 172sq m and up to 600sq m, the expansion will create six new streets and feature a central reserve spanning 200 metres, including many established trees, play spaces and community amenities.

The new estate has been named after prominent early settler Frederick Stone, who lived in Mount Barker from 1854 until he died in 1882.

Dwelling applications received for Mount Barker over the last seven financial years. Picture: Mount Barker Council

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According to a staff report presented to Mount Barker Council in October last year, the development will contribute to an estimated 524 new lots created this financial year.

The forecast is only 47 allotments shy of last year’s total and well above Mount Barker’s pre-pandemic best of 402 new allotments.

“The development sector continues to deliver in excess of 500 build-ready allotments (per annum) whilst passing to council gifted assets with a replacement value of $22.6m across both hard and soft infrastructure classes,” the report reads.

“Regardless of the Reserve Bank of Australia’s continuing increases to rates, new dwelling submissions remain strong.”