Demolitions Outpacing New Builds in Geelong

Geelong is tearing down 227 homes this year while building 2,556 new ones — that’s one demolition for every twelve new builds. Portarlington and Ocean Grove lead the charge, swapping aging beach shacks for modern, larger homes as people flee Melbourne’s bustle. Developers are also snapping up properties with existing permits to cash in on tax breaks, even in pricey spots like Newtown where custom builds or volume developments are replacing outdated homes. But with demolitions eating into supply, economists warn the National Housing Accord’s million-home target may fall short — possibly leaving us with just 800,000 new homes, and demand still outpacing supply. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/ff6dce0ffeb0e4ce