Regional Victoria receives housing boost
House hunters looking to purchase more affordable residential property outside of Melbourne may be interested in a housing development earmarked for Ballarat.
Granting approval for the Ballarat West Precinct Structure Plan last week (October 13), state planning minister Matthew Guy said the project will provide more housing options for the growing region - becoming home to 30,000 people once completed.
He said: "As Victoria's third largest city and Australia's third largest inland metropolitan area, Ballarat is growing strongly and needs to plan ahead for the long term."
"The City of Ballarat deserves congratulations for their hard work in preparing the structure plan and for their policy position to bring greater land supply on stream to combat affordability pressures and strategically place Ballarat as a growing city in which to invest."
The project may appeal to those who want to break into the real estate market, but don't want to fork out around $530,000 - the average cost of a home in Melbourne - for a house in the Victorian capital city.
Mr Guy said the housing development is strategically located close to social, community and health services, including hospitals, libraries and community centres.
The project is also in close proximity to the Ballarat West Employment Zone, meaning residential property dwellers in the area will have close access to job opportunities.