How will Ford decision impact on Geelong real estate prices?

Scott Hunt
Recently Ford Australia announced that they were pulling out of all production of all Ford motor vehicles, starting from 2016. As somebody who is local to Geelong and does business in Geelong, obviously there are concerns as to how this is going to affect Geelong, the local economy, and the Geelong real estate market.

Ford has been an institution in Geelong for a very long time and one of the 3 big industry companies that Geelong was founded on or, at least, that Geelong has relied on for many years along with Alcoa and Shell.

My first thoughts went to those who will lose their jobs and those who’s businesses may be lost and the impact that those people will feel. I also thought about the doomsaying that’s going to hit the media, already has, and will continue for some weeks and the ringing of hands and the “woe is us” mentality that the media will perpetuate because it sells papers. They will perpetuate this for some weeks because bad news sells.

I don’t want to gloss over the impact on the people who will lose their jobs, but lets remember we have 3 years to plan for this and deal with this and to put things into place that allow us to cope with this. There is no questions this will affect our local economy and the local community.

I see the loss, not only Ford but the future loss of Alcoa and Shell – because lets face it, it will happen and they tried to put these things off as long as they but its pretty clear that Geelong has to face up to the reality that the future of Geelong will be without those 3 big industry leaders – and I think all Geelong people, Victorians and Australians should see this as an opportunity. The future of Geelong without these 3 companies provides\ a great opportunity for the betterment of Geelong’s future.

As a real estate agent I talk to people a lot and I don’t recall anyone saying to me in the last 2 or 3 years that they are moving to Geelong because they are coming to work at Ford, Alcoa or Shell. I talk to a lot of people who work in those companies, but I don’t talk to people who are moving here for that reason, they are moving here for lifestyle.