Geelong building boom
800 extra properties approved last year
GEELONG’S boom is reflected in the building market, with hundreds of additional properties approved across the region in the previous financial year.
New figures from demographers id. show 800 additional properties were approved in Greater Geelong during the 2017-18 financial year compared to the 12 months prior.
During that time 244 additional houses were approved bringing the total number up to 2670.
According to the data, the biggest growth area in building approvals was in the other housing category.
There were 747 of these buildings approved compared to just 191 in the 2016-17 financial year. The rise in building approvals looks set to continue, with 1814 properties approved in the region from July to January this year.
This is more than the total number of building approvals granted a decade ago.
Veteran builder and former Master Builders Association president Norman Lyons said the figures were further proof of Geelong’s building boom.
Mr Lyons, who is the chairman of Lyons Construction, said Geelong’s boom was largely being driven by the rise in Melburnians shifting to the city.
Statistics revealed by the Addy last week showed 8522 people moved form Greater Melbourne to Geelong from 2017-18.
The Australian Bureau of Statistics data showed an increase of more than 1600 Melburnians making the shift when compared to the previous financial year.
“We’d be aware that there’s a big demand for new housing out there and that demand for housing in Armstrong Creek and Warralily is huge,” Mr Lyons said.
“That’s because a lot of people from Melbourne see the value in moving to Geelong.”
Mr Lyons said investment in commercial property was also driving residential growth.
“In the commercial field WHITTINGTON is bursting with vibrant pops of colour created by aspiring local artists.
Geelong artist Mandy Dollery helped Whittington locals Amie Hudson and Jae’won Laumatia inject colour into their surroundings through art.
The City of Greater Geelong funded project Colour Me Rad allowed young people to engage in a free art mentor program.
Since the project started, there has been no vandalism or graffiti in the area. The work of the artists will be celebrated in Whittington on May 10. there is a lot happening,” Mr Lyons said.
“It pretty much goes handin-hand that one (commercial or residential) will bounce off the other.
“We see that in the work that our company does. There’s four schools and a community centre for council and a childcare. That shows the growth of the population.”
Mr Lyons said while the demand for housing estates had tightened up slightly, he believed demand would remain steady for years to come.
“The future’s pretty bright for Geelong,” he said.
“If you look at the number of cranes in the Geelong area there’s been a big increase in the last 12 months and that work’s got to continue for some time.”
Real Estate Institute of Victoria president Robyn Waters previously told the Addy Geelong was booming in terms of amenities.
According to demographers Armstrong Creek is expected to have greatest increase in development of new dwellings by 2036.