The Warrnambool City-Wide Housing Strategy 2013 recommends that Council monitor residential land supply across Warrnambool on an annual basis. Council has undertaken an annual audit of residential land supply from 2016 to 2021 to monitor future demand levels. The most recent audit estimated there was sufficient land stocks to satisfy 22.7 years of demand across Warrnambool.
On 26th July 2022, the Australian Bureau of Statistics (ABS) updated its estimated resident populations for regions and local government areas in Australia. The updates use the results of the 2021 census and cover each year from 2017 to 2021, thereby superseding previously published population estimates that were based on the 2016 census. The new ABS data will have implications on Council’s strategic planning and forecasting for residential growth, as they do after every census.
Spatial Economics Pty Ltd have undertaken an independent and robust residential land supply and demand assessment with the new data that can be used to update existing residential land supply, as well as making predications for future demand levels. This includes the supply, demand, sales pricing, and analyses of historical and current residential development in Warrnambool.
The Spatial Economics Pty Ltd work presents three projected demand scenarios based on the most recently available evidence. It estimates that based on the identified supply and demand scenarios, there are sufficient land stocks to satisfy 23 to over 25 years of demand across Warrnambool. In addition, there are sufficient unzoned residential land stocks to satisfy an additional 25 plus years of demand for all three demand scenarios.
The Warrnambool Residential Land Supply and Demand Assessment report was endorsed by Council at its meeting on 7th November 2022.