I noted yesterday that Melbourne @ 5 Million envisages just over half of all new dwellings constructed between now and 2030 – about 16,000 per year – will be located within the built-up area. The rest will be built in the fringe Growth Areas.
This is a significant reduction compared to the 69% share Melbourne 2030 envisaged would be built within established areas over 2001 to 2030.
But I think home buyers’ preference for the outer suburbs is also commonly exaggerated. I expect many fringe settlers would prefer a location closer to the centre if only the market could deliver a better space/price compromise.
I think one of the reasons they can’t find that compromise could be the Government’s policy of prioritising redevelopment to strategic locations, like activity centres and along main transport routes. Read the rest of this entry »