More than 180 residential homes were built in Warrnambool in 2020, the highest number since 2018.
This was a 12.57 per cent increase from 2019, according to the city council's Warrnambool City-Wide Housing Strategy 2013.
Councillors will be asked to endorse the updated plan at the December meeting tonight.
In 2015, the report revealed there were 6321 vacant residential lots, which was considered to be enough land for about 28 years.
The new report shows the total supply of residential lots would equate to about 22.7 years' land supply.
It predicts a need of 245 dwellings each year and a population increase of 8123 to 43,304 by 2031.
The report shows the highest level of housing completions were in the growth areas of north east Warrnambool (33 per cent), followed by south east Warrnambool (12.5 per cent), Dennington (11.4 per cent) and Warrnambool north of the Merri River (9 per cent).
"Residential lot (subdivision) completions increased by 21 per cent from 2019, with a total of 211 new lots made available in 2020 across the residential areas of the city," the report states.
"This quantum of residential lot completion is the highest since 2015.
"The majority of residential lot completions (84 per cent) were in the growth areas and the remainder were minor infill in established residential areas."
"In summary, there is an adequate provision of zoned residential land to meet projected demand rates across the Warrnambool LGA," the report states.
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