Geelong Independent - 24th July 2015

Page 1

Geelong

Friday, 24 July 2015

Connecting people and communities

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‘RAYMOND J’ BRINGS WIZ TO TOWN P17

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Mums on the ball KATE BRADY and Martine Jennings, pictured with Newcomb Power kids Archie, Lexi, Harper and Charlie, have stepped out from behind the scenes to coach their club’s juniors. Read on page 5 how the pair use their mother’s touch to coach kids in more than just Picture: REG RYAN footy skills. 142047

Land cost spirals faster ‘Worrying signs’ as prices rise yet sales fall about three times the rate of inflation over the same period. The Geelong region ranks as the fifth most expensive housing market in the country. The Independent reported last year that Geelong was the 19th most unaffordable property mar-

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Dale said land supply shortages were shutting out home buyers. The March 2015 quarter report showed land price growth accelerating as turnover fell sharply, Mr Dale said. “This is not a good combination - escalating residential land

values and a related decline in sales volumes. “The combination of significantly reduced turnover and strong price growth suggests that supply bottlenecks in residential land are intensifying. “That is pricing new-home

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ket out of 378 major international centres. Geelong ranked alongside the ex-urban area of outer-London for unaffordability in an 11th annual International Housing Affordability Survey. HIA Chief Economist Harley

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THE MEDIAN price of a vacant building block in Geelong has jumped alarmingly, according to a latest Housing Industry Association (HIA) residential land report. The Barwon region’s median land price is now $204,000, up from $179,000 two years ago. The 12 per cent increase was

buyers out of the housing market and capping the construction cycle at a lower level than would otherwise be the case. “The provision of adequate, affordable, shovel-ready land is a crucial element to addressing housing affordability pressures across the residential property market. Continued page 2

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By JOHN VAN KLAVEREN


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