Detailed analysis of housing land in Camperdown, Cobden and Terang will help capitalise on future residential development opportunities.
Corangamite Shire Council last week adopted the ‘Camperdown, Cobden and Terang Residential Land Review’, adding to a suite of strategic plans for the district’s growth.
Recent research by KPMG shows COVID-19, positive economic conditions and low mortgage interest rates have caused a spike in residential property prices, including in regional areas.
Mayor Ruth Gstrein said the review, along with the Rural Living Strategy 2019 and the Key Worker Housing Action Plan 2020 would help Council plan for housing and residential growth.
“The property market has been surging as COVID-19 prompts city buyers to look to the regions,” Cr Gstrein said.
“We need to make sure there are still opportunities for locals, and capacity to attract and house key workers for our critical agriculture, tourism and energy industries.”
Manager Planning and Building Services Aaron Moyne said the Residential Land Review provides strategic direction and recommendations to position Camperdown, Cobden and Terang as the primary residential townships in the Shire.
“Timboon and Port Campbell have existing residential subdivision going through planning and development stages and opportunities are being developed in Simpson,” Mr Moyne said.
“The RLR does not guide the future land use or settlement planning outside of the townships. Residential growth and rezoning needs to be addressed through upcoming strategic planning, such as the Cobden Structure Plan.
“There’s still work to do, including Council actions and advocacy, but this review is an important step in promoting and facilitating residential development in the Shire’s three biggest towns. We want to engage with landowners in these townships interested in developing their land.”
The review can be found here or by calling Council on 5593 7100.