Media Release


Regional Cities - A Growing Market For Development Industry



More than 2.2 million people will call country Victoria home by 2051

Tony De Domenico Executive Director UDIA Victoria 

Regional cities in Victoria will become an increasing market for the development industry as population growth will drive both demand and investment, the Urban Development Institute of Australia (UDIA) Victoria said today.

Speaking before the UDIA Victoria monthly Industry Lunch being held in Geelong today, Tony De Domenico, Executive Director of the UDIA Victoria said, "The major regional cites of Geelong, Ballarat and Bendigo will be at the forefront of a housing boom.

"Victoria's regional population is expected to grow by 800,000 to hit more than 2.2 million by 2051.

"Geelong especially, with its direct access to Melbourne, has the potential to grow quickly as we can already see at Armstrong Creek and many other areas in the City of Greater Geelong."

Mr. De Domenico said the work of the Metropolitan Planning Authority, which has been created by the Victorian Government to streamline planning delays and create confidence for the industry to invest in regional Victoria, is a major advantage. This planning work will directly benefit the community through the creation of jobs that will help build a local sustainable economy.

"For the development industry, one of the key ways to maintain housing affordability is to cut the time in processing planning applications, which can sometimes be years, and can add thousands of dollars to the cost of bringing land to the market, that is ultimately paid for by the land buyer.

"The Metropolitan Planning Authority's forward planning helps provide a more orderly approach and UDIA Victoria and its members are also working with the Mayor of the City of Greater Geelong, Cr. Darryn Lyons and the City of Geelong staff to maximise efficiency in the planning system."

Mr. De Domenico said the City of Geelong's central business precinct offers extensive opportunities for investment and redevelopment as the population grows with opportunities to capitalise on its coastal position a major advantage.

Media Enquiries:
Ron Smith, Corporate Media Communications, UDIA Victoria - Mobile: 0417 329 201