Development boom in Melbourne as population grows
The DAM tracks new commercial and residential property developments in the City of Melbourne, outlining which projects have recently been completed, are under construction, approved by Council or are proposed across the municipality.
Lord Mayor Robert Doyle said 5150 new dwellings were completed in the city last year and another 17,000 residential dwellings are under construction.
“More and more people want to live in Melbourne, which is reflected in the record number of homes being built. The number of dwellings completed or in the pipeline is one of the highest we have recorded since the DAM began in 2002,” the Lord Mayor said.
“More than half of this development is in the Melbourne CBD, pointing to the demand from knowledge industry workers who want to live close to their workplace − the so-called ’20-minute workers’.”
“The City of Melbourne will continue to monitor the variety, quality and affordability in our housing stock as this boom continues. A further 34,000 residences already have town planning approval and applications have been lodged for another 22,000.”
Originally published on melbourne.vic.gov.au.