... the news is a great win for the growing Geelong community and local builders," Master Builders Geelong Sector Chairman Mark Little.

Employment in the local building industry in Geelong is about to get a boost with the commencement of new housing construction on the Geelong Golf Club Residential Estate.

New housing to cost an estimated $100 million on the 320 home golfing residential estate is set to commence next week once building permits have been issued.

A spokesman for Links Living Ron Smith said, "With $50 million already invested in the redevelopment of the Geelong Golf Club Residential Estate, the project is now entering into a period of increased momentum as housing construction begins.

"New houses expected to be built over the next few months will create a new momentum at a time the building industry has a need to boost the number of new home starts."

Researcher *BIS Shrapnel in June forecasted a 11% fall in dwelling commencement in Geelong 2013/2014 of new homes a drop of around three hundred new dwelling starts from 2627 in 2012/13 to 2,333 this financial year.

Mr. Smith said we believe with a combination of historical low interest rates and the Federal election result will also add to creating a more positive economic climate.

"The economic development created by new housing building not only creates employment in the building industry but also flows through to suppliers and once homes are finished through to the general economy as people purchase goods and services."

Mr. Smith said that after ten years we are seeing the return of the site of the former Geelong Golf Club to a prestigious master planned golfing residential estate with three hundred and twenty homes making it one of the most significant urban renewal projects in Geelong.

"The news is a great win for the growing Geelong community and local builders," said Master Builders Geelong Sector Chairman Mark Little.

"Geelong is expected to house nearly 170,000 more people in the coming decades. Urban renewal projects like this are vital to meeting the needs of a growing population.

"This development will supply a mix of affordable housing close to the CBD and provide a much needed shot-in-the-arm for the local building industry.

"It's great to see project like this moving forward to support jobs and secure economic activity that will benefit people living and working in Geelong."

Source: * Property Observer

www.geelonggolfclub.com.au

Media Enquiries:
Ron Smith, Media Communications, Geelong Golf Club Residential Estate - Mobile: 0417 329 201