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7 Things The Property Industry Thinks About Plan Melbourne

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Melbourne needs to accommodate an extra four million residents by 2050. That's 4,000,000 people. The State Government's response to the challenges presented by this growth, Plan Melbourne, is currently undergoing a major 'refresh'.

The Urban Development Institute Australia (Victoria) has led the property industry's input and is working closely with the Victorian Government to make sure the final Plan Melbourne strategy benefits home buyers and the community in the long term.

The Institute’s Plan Melbourne Refresh Industry Forum was held recently to  canvas the views of industry and government leaders on the detail and direction of Plan Melbourne Refresh.

The Forum aimed to highlight how Plan Melbourne implementation and deliverability issues need to be addressed without impacting on market activity, affordability and choice.

Victorian Chief Executive of the Institute Danni Addison said the forum provided the opportunity for the development industry to participate in the policy making process.

“Taking a proactive role in providing thought leadership on the topic of managing Melbourne’s growth, today’s event brought together government staff, development company CEOs, academics and industry professionals to share their knowledge and insight."

Seven Issues

The forum highlighted a range of issues that need to be addressed as part of the Plan Melbourne refresh, including:

  • The rising costs of infrastructure related charges will increase prices with a possible decrease in market activity if prices not absorbed;
  • Restrictive land use strategies have been proven to be a fundamental failure in terms of affordability;
  • Mandatory density requirements at 25 dwellings per hectare is unlikely to be absorbed by the market;
  • ‘Locking down’ the urban growth boundary is an unrealistic statement as it will always be subject to changes;
  • While modelling suggests an ability to cater for growth within established suburbs, the assumptions made are not currently realistic;

  • Housing attainability should be added to the mix when considering housing affordability due to the social equality benefits that arise from higher home ownership rates;
  • Need for government to better understand market and commercial implications of policies.

What is Plan Melbourne?

Plan Melbourne

was developed over more than two years through extensive collaboration across government and a sustained dialogue with professional, industry and community stakeholders.

A discussion paper Melbourne, let’s talk about the future was released in October 2012. By March 2013 thousands of people and representative organisations had been able to have their say on planning for Melbourne’s future through a range of activities, forums, surveys and a formal submission process.

In October 2013 Plan Melbourne was released for comment, supported by community and stakeholder briefings and information, with more than 450 submissions received. The final Plan Melbourne was the result of the work of many people and organisations.

Plan Melbourne

was released in May 2014 and is currently referenced in the State Planning Policy Framework.

It is anticipated that a refreshed Plan Melbourne be released shortly following community and stakeholder consultation.

 

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Article originally posted at: https://theurbandeveloper.com/articles/plan-melbourne-forum