Torquay’s approvals soar over neighbours

Alex de Vos
Torquay is set to continue booming after posting more than twice as much building activity as any other town or suburb in the region last financial year, according to an industry association.
Housing Industry Association regional executive director Robert Harding said figures for the first half of this financial year showed the coastal boom could continue despite the global financial crisis.
City of Greater Geelong’s annual Surf Coast Shire approved 338 new residential dwellings in Torquay for a total value of $87 million in 2007/2008.
The bulletin showed a significant increase in building at Torquay over the previous two years, up from 261 approvals in 2006/2007.
Highton was second for the number of dwellings approved last financial year, 151, worth a total $35.4 million.
Ocean Grove had the third highest number of approvals, 148, but the second highest total value, $37.8 million.
The next highest for approvals and their values last year were: Drysdale, 108, $20.2 million; Grovedale, 106, $17.6 million; Belmont, 86, $13.8 million; Barwon Heads, 83, $25 million; Norlane, 69, $10.4 million; St Leonards, 67, $14.5 million; Corio, 57, $8.7 million; Bell Park, 54, $9.5 million.
Mr Harding was “not surprised” about the strength of building last financial year, particularly at Torquay.
“For a number of years there has been a large demand for properties anywhere near the water, particularly over the past six months,” Mr Harding said.
“Properties have become more affordable and vendors’ expectations are more realistic. It doesn’t come as a surprise – I would have expected that area to grow.
“Torquay is an attractive area when you compare it to other green belt areas around Melbourne. It has better infrastructure and the likelihood for improved infrastructure.”
Mr Harding expected the approvals to continue rising on the coast this financial year.
The association’s latest figures, for the December 2008 quarter, revealed another 214 building approvals in Surf Coast Shire compared to 100 on the Bellarine Peninsula.
“It’s a pretty good performance in the face of current financial difficulties,” Mr Harding said.