60,000 new homes needed in 20 years
WITH the population of the Coffs Coast set to double in 20 years, almost 60,000 new homes will be needed - but with an underperforming development industry, growth could be a double-edged sword.
The Mid North Coast Regional Strategy, launched this month in Coffs Harbour, identifies the need for an additional 59,600 new dwellings to support a projected growth of 94,000 people by 2031.
The Urban Development Institute (UDIA) has come out in support of the strategy, but Mid North Coast chair Paul Rowlandson said the development industry is suffering and consistently underperforming compared to other states.
“The industry is producing about half the number of new dwellings that are being built in Victoria, and our current production levels are running at 25 per cent below the historical average,” Mr Rowlandson said. “This is having a major impact on our local economy.”
However, Mr Rowlandson praised the strategy for providing a balanced approach to growth on the coast. “The strategy ensures that we can accommodate the growing population with employment opportunities and an adequate supply of affordable housing.”