CONSTRUCTION has started at Villawood Properties\u2019 Wandana, as new industry figures show the Geelong region\u2019s property market surging ahead of Melbourne.<\/p>\n
City of Greater Geelong mayor Bruce Harwood and Villawood Properties executive director Rory Costelloe visited the development last week.<\/p>\n
The project start comes as Oliver Hume research shows Villawood leading the way as Geelong\u2019s property sector hits a new pace, with median prices half of Melbourne and outstripping anything within 20 kilometres of the capital.<\/p>\n
Urban Development Institute of Australia research also shows building approvals in regional Victoria are up 14 per cent on last year.<\/p>\n
Sited between Highton and Ceres, interest in Wandana since land was released for sale last October led the developer to stage its first-ever auction, with blocks drawing an average price of $500,000 apiece.<\/p>\n
Mr Costelloe said house-and-land packages at Wandana could be bought for between $600,000 and $700,000.<\/p>\n
\u201cThis is significantly cheaper than the surrounding houses yet in a prime location.<\/p>\n
\u201cBuyers who want to live in great area like Wandana \u2013 with either bay views or views of rolling hills \u2013 are quickly realising the value of their house-and-land package is far more affordable than buying an established house.<\/p>\n
\u201cAnd designing and building your own dream home is better than buying a pre-loved home and having to renovate it to meet your own needs.\u201d<\/p>\n
More than 50 lots have been sold, all locally. Construction of Villawood\u2019s Wandana precinct\u2019s Drewan Stage 1 has now started, with the Moncrieff Stage 4 to get under way soon. The latest tranche of Wandana allotments was released for sale at the weekend.<\/p>\n
The new estate will also feature a $500,000 upgrade of the neighbouring Drewan Park to include zones for children of varying ages with large grassed areas, footpaths and extensive tree plantings.<\/p>\n
Cr Harwood said he was impressed by what Villawood had planned for the estate.<\/p>\n
\u201cI think the development\u2019s fantastic as it\u2019s actually maximising the site for its best use \u2013 so you\u2019re maximising the views, maximising the access, and maximising the community space around it, which is a great result.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
CONSTRUCTION has started at Villawood Properties\u2019 Wandana, as new industry figures show the Geelong region\u2019s property market surging ahead of Melbourne. City of Greater Geelong mayor Bruce Harwood and Villawood Properties executive director Rory Costelloe visited the development last week. The project start comes as Oliver Hume research shows Villawood leading the way as Geelong\u2019s […]<\/p>\n