A DISCOUNTING war that’s erupted amid the slowdown in Melbourne’s new land market is set to benefit Geelong homebuyers.
Developer Villawood Properties has cut 20 per cent of the price of one in five new blocks of land that are made available for Geelong care workers, including Geelong medicos, emergency workers, police and teachers at its Armstrong and Wandana estates in the city’s south.
The developer is setting aside 20 per cent of its new-release lots for its care workers program, which launched in 2018.
Since the program started, 27 care workers have saved a combined $270,000 on their land purchases at the Armstrong estate.
The program is open to care workers including nurses, aged care workers, paramedics, firefighters, medical professionals.
It is means tested to individuals earning less than $85,000 or couples with a combined $135,000 income.
Villawood Properties executive director Rory Costelloe said the decision to double the discount for care workers came as developers dealt with a slowdown across the Melbourne land market.
“There are often discounts around, so we’re not really giving care workers an advantage if we don’t step it up so we’re trying to make sure it’s relevant and helping our nurses and teachers to get into homes.”
Meanwhile, Mr Costelloe said development of the Armstrong estate’s neighbourhood shopping centre was expected to start later this year, once it has received council approval.
Builder-partner MASBuild is set to develop the 2.6ha neighbourhood activities centre at the corner of Unity Drive and Sovereign Drive, which will include a supermarket, medical centre, childcare and specialty shops.