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Melbourne to unlock up to 300k homes
The Victorian government has announced planning changes that will enable more homes to be built across 25 train and tram zones in Melbourne’s best-connected suburbs by streamlining the approval process.
Following changes to the planning approvals process, the government said the new zoning could help unlock up to 300,000 homes by 2051.
The move comes as the state looks to spark investment in suburbs that have experienced some of the slowest growth over the past 30 years, with Melbourne recording just a 4.7 per cent rise in dwelling values over the past year, according to recent Cotality data.
As part of the government’s planning changes, 25 tram and train zones around Melbourne will have projects approved, provided they meet the predetermined rules.
The new planning controls include the suburbs of Footscray, Darling, Brighton, Sandringham, Hawthorn and Coburg, among others.
In total, seven of the suburbs that had their planning controls changed were along the city’s new Metro Tunnel corridor; 16 were centred around various train lines, with three along major tram corridors.
For “core” suburbs around tram and train zones, buildings that range from six to 20 storeys will fit the new planning rules and will be deemed to comply, meaning that they can’t be sent to Victorian Civil and Administrative Tribunal (VCAT), which speeds up the approval process.
The inner catchments around the government-identified “core suburbs” have height limits of up to four storeys, rising to six on larger blocks.
New builds in the outer catchments could be up to three storeys, or four on larger blocks.
Premier Jacinta Allan said the planning changes would boost the city’s ability to meet supply needs.
“For years, some of Melbourne’s best-connected suburbs have been locked up, and it’s pushing young people and families out,” Allan said.
“These reforms cut delays and give clear rules – so more millennials get into a home faster.”
Victorian minister for planning, Sonya Kilkenny, said as Melbourne’s population grows, building more homes around transport hubs becomes even more important.
“We want Victorians to live in places that have great trains, trams, schools and jobs nearby - that’s why we’re making it easier to get more homes built,” Kilkenny.
In addition to new construction coming up, housing in those suburbs is poised for growth.
In Sydney, houses within 400 metres of a metro station sold for around 16 per cent higher than similar homes 2-3 kilometres away, equating to a premium of around $150,000 on a $900,000 home, according to a Domain report.
Units also benefited strongly from proximity to the enhanced transportation links, selling for 24.4 per cent higher than those further away.