‘Nonsensical’: Economist shuts down 10% price drop talk
A big four bank’s suggestion that Australia would see a 10 per cent dip in property prices over 2023 has been promptly...
The Victorian government aims to create a ‘new housing growth front’ in Geelong with the release of land in Lara West and a $37 million investment in infrastructure projects.
“The Lara West Precinct Structure Plan will open up Geelong’s north as a new growth front, providing hundreds of local jobs and millions of dollars in investment into Australia’s 12th largest city. The approval of this structure plan is a huge economic shot in the arm for the Geelong economy,” planning minister Matthew Guy said.
“A total of $37 million of roads, community infrastructure and sporting grounds will support an employment precinct providing 300 jobs, a large neighbourhood activity hub with 185 ongoing jobs, three new schools, community services, sporting facilities and parkland enjoyed by everyone in the region.”
The mayor of Geelong, Darryn Lyons, welcomed the release of land for future Geelong residents and said it will promote Lara as a place to invest and live.
“The rezoning of Lara is huge for Geelong. If people are looking at moving to Geelong, Lara West will be a great option. Not only will it provide sensational new community facilities, it will also facilitate hundreds of jobs through essential infrastructure and construction works, another plus for Geelong,” Mr Lyons said.
Mr Guy said Lara West will be developed gradually over the next 30 years.
Amendment C246 will be gazetted shortly.