This Property Council study aims to demonstrate the significance of the residential element of urban renewal and argues that market drivers of urban renewal should inform policy.
There is no denying that Melbourne is growing in population and will keep growing. The Victorian Government’s latest Victoria in Future 2012 figures project that over the 40 years to 2051, Victoria’s population will increase by 3.2 million to 8.7 million. Over the same period, Melbourne’s population is expected to grow to 6.5 million, while regional Victoria is projected to grow to 2.3 million.
How we manage this growth is up to us. Housing plays a vital role in how a city manages population growth and how we provide housing is both a challenge and an opportunity for the identity of the city and the suburbs. We are entering an exciting time in Melbourne’s history. The development of a new Metropolitan Strategy is on the horizon and the Victorian Coalition Government has made a clear commitment to Victoria’s growth.