Melbourne’s apartment approvals record demonstrates lifestyle shift

25 February 2014

The approval of 2,000 apartments in 5 high rise Melbourne projects in one day demonstrates a shift in market preferences, says the Urban Taskforce.

 

 “The Victorian Planning Minister in approving a 63 storey apartment tower as well as two 55 storey towers is supporting the growing interest in apartment living in urban areas of Australia,” says Urban Taskforce CEO, Chris Johnson. “The demonstration of leadership by the state government in fast tracking these approvals is a lesson for other states where approvals are often delegated to other bodies.”

 

“Minister Guy in giving his support for these developments claims that the suburbs will be protected from high density development. Clearly towers of 60 storeys will not be appropriate in suburban centres but there are many urban centres and transport corridors where lower types of high rise are likely to be appropriate.”

 

“Most of Melbourne can still be retained as a suburban character with mid-rise and high-rise development at appropriate nodes.”

 

“The swing towards apartment living in Australian cities seems to be part of a cultural shift to favour location over dwelling size. Coming with the new form of urban living is a more co-operative approach to sharing amenities like swimming pools, parks and gymnasiums.”

 

“The boom in apartment high-rise is partly supported by a growing interest in rental properties as many purchasers are investors. There does seem to be a swing towards rental accommodation in cities as younger people put off home ownership to give themselves more flexibility in where they live.”

 

“The strong pro-growth attitude by the Victorian Minister for Planning sets a good example for other states in Australia.”

 

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