With a population on track to reach 10 million by 2051 – double today’s present population, Victoria stands alone from the other states as having the biggest growth in absolute terms and arguably the greatest challenge for housing for decades to come. The growth, which is largely fueled by immigration and to a lesser extent natural births is a positive sign of a healthy economy and Victoria as a desirable destination for a way of life. This is the clarion call for all developers to seek fresh opportunities to build more housing to meet this chronic shortage.
The government’s priorities to facilitate new housing supply is clearly articulated through an exclusive interview with Victorian Planning Minister, Richard Wynne.
Population Growth Projections
Greater Melbourne Victoria’s Regions Victoria
2013 4.3 mill 1.4 mill 5.7 mill
2031 6.0 mill 1.7 mill 7.7 mill
2051 7.8 mill 2.2 mill 10.0 mill
Source: Department of Transport, Planning and Local Infrastructure (2014)
The Fishermans Bend Urban Renewal Area is a 250 hectare master plan to create a new suburb has the potential to add twice the size of Melbourne’s CBD. Located in South Melbourne, The government says that the precinct has the potential to support 40,000 new jobs and at housing stock for at least 80,000 residents.
The Victorian Planning Minister is considering strategies to ensure that the precinct will be progressed with appropriate civic and social infrastructure concurrently with approval of applications for high density housing projects.
A 20 hectare rail yards site located on western edge of Melbourne’s CBD is an opportunity to create a mixed-use precinct to combine high standard residential, commercial retail and importantly, community end uses. The site enjoys excellent transport links including rail, light rail and bus lines. A new proposed bridge can potentially connect E-Gate with North Melbourne Train to link with the Metropolitan rail network. Developing the site could unlock billions of dollars to Victoria and with it thousands of jobs from construction, administration, retail and hospitality.
An Expression of Interest for this project recently closed and a short list of potential developers for the site will at some stage soon be officially announced.
Arden-Macauley is a 147 hectare precinct identified by the City of Melbourne as a urban renewal area with the potential to provide several decades of mix use activities. Located between the Melbourne CBD and the western suburb of Footscray, an Arden-Macauley Structure Plan was approved in 2012 and offers an exciting mix of housing stock.
An Arden-Macaulay Structure Plan was approved by The Future Melbourne Committee in 2012 and is moving methodically towards articulating in greater detail an exciting vision for the precinct.