UDIA Geelong Summit 2023
Industry experts led discussions about what housing choice means for Geelong’s enduring prosperity at the UDIA Geelong Summit held at The Pier on November 16.
Since 2016 Greater Geelong has seen a doubling in greenfield housing supply, which is the largest increase of any category of dwelling type in any city in Australia. Interestingly, housing supply in Geelong’s established areas over the same period grew by only 10%.
The City of Greater Geelong has an objective to move towards a more even split – with 50% of development being infill and 50% new homes in Greenfields areas. In order to be one of the nation’s most attractive cities to live, work and invest in, there needs to be a greater diversity of high quality homes, including in established suburbs and the central city.
Hygge Director Adam Davidson provided commentary on the challenges associated with infill residential development.
Asked about the reality of the 50/50 growth model, Adam suggested that while it’s possible, it would require significant changes in current policies.
“Most infill residential developments face a significant viability challenge at present and won’t proceed unless we repair the basic development equation. We need to either reduce costs or increase revenues in favour of the housing outcomes we seek to turn this situation around.
There are ways we can do that – we see promise in the federal government shared equity scheme in particular, but it’s going to take a lot more than plans and announcements and will take considerable time to achieve.”
Adam suggested that presently, only the very best infill projects can proceed, that and it’s difficult to see a time – at least in the near term – where growth areas don’t play a significant role.
The topic of mandating affordable housing inclusions from the private sector was also raised. Adam suggested that more education about the difference between housing affordability and affordable housing is required. In order not to negatively impact on housing affordability, affordable housing will require continued subsidisation for the foreseeable future.
Image courtesy of UDIA, Victoria including (From L- R):
- Adam Davidson - Director at Hygge Property
- Celia Konstas - Planning Manager at Villawood Properties
- Ben Stewart - Senior Project Manager at Core Projects
- Linda Allison - CEO at UDIA Victoria
- Adam Jaques - Partner at Maddocks (Property & Development)