Geelong home building approvals surge 34pc towards 2022 levels

Key points

• Home building approvals in Geelong have risen 34 per cent over the past year to August, close to levels last seen in the 2022 Covid boom, according to KPMG analysis of Australian Bureau of Statistics figures. The pipeline now sits at around 4000 new homes.
• KPMG urban economist Terry Rawnsley said the rise shows growing confidence in the city's long-term growth, but stressed that approved projects must now move through to construction.
• Lara has overtaken Armstrong Creek as the region's top approval area, with the activity shifting north.