Growth surges ahead

Jane Emerick
Torquay has jumped to the top of regional Victoria for growth rate, according to a new report.
Housing Industry Association’s latest Population and Residential Building Hotspots report also put Torquay and Jan Juc at fifth statewide behind four outerMelbourne municipalities.
A HIA spokesperson said Torquay’s Surf Coast – East area was not even in the top 12 last year but a population growth spurt of 7.3 per cent had catapulted it to the top of the rankings.
Torquay real estate agent Bryan Hayden called the growth good news for homeowners.
“Torquay and the Surf Coast have been at the forefront of development over the past five years and the real estate market has responded with continuing price increases,” Mr Hayden said.
“People who bought five years ago have already doubled their money.
“With the indication of stable interest rates, the completion of the ring road and the increased popularity in surfing, it’s expected prices will continue to rise.”
Mr Hayden also attributed the standard of schools, sport facilities, medical centres and “everincreasing” shopping precincts with encouraging the growth rate.
However, Surf Coast Community and Ratepayers Association’s Lyn Smith, of Torquay, said growth was putting community services under pressure.
“I don’t think it’s good news for people who live here now,” Ms Smith said.
“It’s a growth node, yes, but it has to stop at some point.”
Ms Smith said Torquay was feeling the pressure because it had space to expand, unlike other towns on the coast such as Anglesea and Lorne.
“Other areas on the coast naturally cap themselves but Torquay lends itself to growth.”
Torquay councillor Ron Humphrey was concerned about what the increasing growth rate meant for the town’s character.
“There’s a very strong feeling we are losing the character of Torquay, particularly in old Torquay,” Cr Humphrey said.
“There’s a town here and there’s a certain character that goes with it and it goes beyond vegetation. I believe it needs to be protected.
“We really need to err on the side of caution when we embrace development.”
The HIA report said the value of approved residential building in Surf Coast – East last year was over $115 million.