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Geelong top 10 for new home approvals
The Geelong region has shown itself to be one of the fastest growing regions in the country by being the only region outside of capital cities to make the top ten regions for house building approvals in Australia over the past financial years.
According to the CoreLogic RPData report, Geelong sits at number 10 for the highest number of building approvals in Australia with Melbourne and Perth featuring very strongly.
The reports highlights Geelong’s growth as a regional city and as a lifestyle destination for many people moving to the area.
“For the past year or so, the national press has painted a grim picture of Geelong due to job losses in the manufacturing sector,” says Advance Homes director Scott Hunt.
“However many people investing in Geelong or moving to the area to live, recognise it as an ideal lifestyle choice, with lower property prices, great infrastructure, and a coastal location.”
With the increasing regularity of train services direct to the Melbourne CBD, plus infrastructure project such as hospitals, shopping centres and road projects, Geelong has a very bright future indeed.
“Many investors recognise Geelong as one of the best investment opportunities in regional Australia,” adds Scott.
“Lower land costs often mean higher rental yields than in the capital cities which makes it very attractive for investors seeking positive cash flow.”
Residential growth corridors in the Geelong region such as Armstrong Creek and Curlewis provide great opportunities for investors and first home buyers alike.
Graphic source: http://www.corelogic.com.au/news/top-20-regional-areas-for-house-unit-dwelling-approvals