House prices ’will soar’

Bellarine ‘critically low on land supply’

HIGHER house prices on the Bellarine Peninsula will be the result of a state government decision to lock down land supply in the region via a 50year planning vision, the Urban Development Institute of Australia says.

Areas where new homes can be built, where in-fill development can occur and protections for the farmingresidential divide were locked via the Bellarine Distinctive Area and Landscape (DAL) plan released by the government in October.

Bellarine Labor MP Lisa Neville said the DAL protected the environment and amenity of the Bellarine. “The DAL makes it clear that the Bellarine is not a growth corridor, confirming the current City of

Geelong planning scheme and years of boundaries that are currently in place,” Ms Neville said. “The northern area of Geelong and the Armstrong Creek areas are designated growth zones providing adequate land availability for the region.

“This means protecting those important assets and green spaces that have attracted people to the area.”

UDIA Victorian branch chief executive Matthew Kandelaars said the Bellarine and Surf Coast were “pressure-release valves” for land supply in the Greater Geelong region.

“(Yet) you’ve got these (state) government policies to lock down land supply in these regions when, like never before, we’ve needed land supply to keep a check on housing affordability,” Mr Kandelaars said.

“The (DAL) decision ignores that the Bellarine is critically low on land (future) supply. It is suffering from a housing affordability crisis.

“(The decision) disadvantages the young potential homebuyers in and around the Bellarine who have grown up in the region who would love to stay there and purchase their own home.”

Ms Neville refused to answer questions from the Geelong Advertiser about the potential for the DAL to worsen the housing affordability crisis. Mr Kandelaars also said Geelong was likely “18 months to two years out from supply drying up”.