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Page 8 Friday, 5 December, 2014
Connecting people and communities
CHRISTMAS Industry âtalks MARKET up price crisisâ âĒ Christmas Gifts âĒ Christmas Baking âĒ Plants, Preserves âĒ Crafts âĒ Books âĒ Kids Activities âĒ Food Christ Church Geelong Cnr Moorabool & McKillop Sts SAT 6th December 9am - 2pm 1165850-CG49-14
By JOHN VAN KLAVEREN PROPERTY industry sectors are âspruikingâ Geelongâs affordability crisis for their own benefit, according to a real estate expert. Domain Group senior economist Dr Andrew Wilson said developers and builders used the âaffordability mantraâ to push for increased home building. âThere are people in the community who are marginalised by a lack of home ownership but there are parts of the industry that use affordability to say we need more houses," Dr Wilson said. âAffordability is about your mortgage payment more than about land supply, and low interest rates have given a sharp spike
to affordability. âThe improvement in affordability has washed through the system now and there's a role for government to improve that.â The Independent reported last week that Master Builders Association of Victoria research showed local housing had declined from "unaffordable" in 2004 to "highly unaffordable". The Barwon region has the fifth most expensive land in Australia, according to Housing Industry Association (HIA) and RP Data. The ranking followed revelations in the Independent that an international survey rated Geelong property less affordable than New York.
But Dr Wilson said Geelong was affordable compared to Melbourne and was marketed on its lifestyle benefits. âGeelong is more closely associated with Melbourne these days, especially given the number of commuters. âThe outlook is positive for the market in terms of demand levels because prices are lucky to keep up with inflation. âThe positives in terms of the housing market lays in generating new dwellings and creating jobs. Iâm not convinced weâve seen enough houses built given the low interest rates and I donât think interest rates will go up any time soon.â
Bongoâs on beat as shuttle for ferry
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By JOHN VAN KLAVEREN AUSTRALIAâS first electric tourist shuttle has launched at Queenscliff. The six-seat Bongo Transit will service 400,000 QueenscliffSorrento ferry passengers annually. Bongo Transitâs Greg Jones said the shuttle would provide a âhop on, hop offâ service between the ferry terminal and both town centres. Mr Jones and business partner Philip Luchetta discovered the Bongo while travelling in Europe and Asia. âWe'd seen the need for some form of easy, environmentally-
LAUNCHED: The Bongo ferry shuttle. friendly transport to carry ferry foot passengers from the terminal into two of Victoriaâs favourite tourism towns,â Mr Jones said. âWhen we came across the European-style Bongo tricar, known as the tuk tuk, we knew it could do the trick. Over the past
four years we've worked with the Dutch designer, the Thai manufacturer and Australian Department of Infrastructure and Regional Development to perfect a super-safe, zero-emission electric version that we named Bongo.â Mr Jones said the shuttle service was creating jobs, with more than 40 local people trained and licensed to drive the unique vehicles. âWe expect the service will lead to benefits for business operators in Queenscliff and Sorrento, with more people being able to transit from the ferry terminal to the retail centres - and it is all happening while protecting the environment.â
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