Housing data reveals positive signs for Eurobodalla’s economy
A mini boom in residential subdivision over the last 12 months shows that confidence in the Eurobodalla economy is growing.
Council’s Director of Planning and Sustainability Lindsay Usher says the release of the 2015-16 Eurobodalla Residential and Rural Residential Land Supply Report provides a number of positive signs that Eurobodalla is most definitely open for business.
Mr Usher says the number of new residential lots released in the last financial year almost doubled the number of previous years. “This suggests that the development industry is confident in Eurobodalla’s housing market and that there’s increasing demand for land for new dwellings.”
“The number of new dwellings built in the last 12 months is also higher than previous years and if trends continue, should be even higher this year. This is great news for local builders and tradespeople, particularly those who may have been working outside of Eurobodalla in recent years.”
According to Mr Usher, the report’s findings correspond with Council’s development activity data. “The last financial year saw a 20 per cent increase in the number of applications received by Council,” he said, “and the value of development increased last financial year to $127 million, up from just under $100 million the year before.”
Mayor Liz Innes says Eurobodalla residents have every reason to be confident about the future. “This report tells us we’ve got the settings right and with Council’s $70 million capital program this year and important projects like the redevelopment of the former bowling club site, it’s clear that Eurobodalla is strategically set for substantial economic growth.”
According to the report, the majority of new lots created last year were in existing estates, such as Bay Ridge at Batemans Bay, Barlings Beach at Tomakin, the Sunshine Bay Estate, Braemar at Moruya and at the Broulee Beaches Estate. Mr Usher said that for some of these estates, no new lots had been created for a number of years, “so the re-commencement of development is a very positive sign looking forward.”
The Land Supply Report, which can be viewed on Council’s website on the Community Profile Statistics page under ‘Living In’, also demonstrates there is sufficient land already zoned for residential development in Eurobodalla to house our projected population to 2036.
“The report projects an increase in population of approximately 6,200 people over the next 20 years, meaning we need to provide just over 4,000 new dwellings, or 200 dwellings on average per year,” Mr Usher said. “With 228 dwellings approved in 2015-16, we are right on track to meet our community’s housing needs. Media Release