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Bentleigh to benefit from record approvals

By Matt Hurlston

The Victorian government is well past halfway in overtaking the record for value of approvals for new construction, set in 2014.

The approvals so far have certainly had a positive effect, much like the removal of rail crossings in Carnegie, making real estate in Bentleigh more desirable.

Minister for planning Richard Wynne made the announcement, with the intention of promoting development and assisting the job market, creating stronger communities.

"This is a job-creating Labor government which encourages economic growth in the private sector, while boosting industry and services through the billions we're investing in the infrastructure projects our state needs," he said.

To support the employment market, the budget has also allocated funds to Learn Locals to make jobs more reachable through higher training.

"These grants will help organisations better meet the needs of learners and also strengthen partnerships with other Learn Local organisations, local industry and training providers, benefiting the community," said Rowena Allen, board chair of Adult, Community and Further Education.

This all makes for not only a stronger and more accessible property market, but also a healthier community. 

The numbers

  • $4billion is the approvals record, set in 2014
  • $2.8billion worth of approvals have been made by the Labor government after six months
  • $4.32million of funds have been allotted to Learn Locals Victoria-wide.

What does it mean for real estate in Bentleigh?

According to a recent report from the Housing Industry Association, new home sales have continued to increase throughout Australia over the first quarter of 2015. With approvals for exciting new construction projects and continuous community grants, Bentleigh is no exception.

If you would like to purchase real estate in Bentleigh and be a part of Melbourne's accelerating growth, get in touch with Matt Hurlston and the team at Ray White Carnegie.

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