New Developments in VIC

Victorian Premier Jacinta Allan’s plan to take planning controls away from local councils and rezone wealthy areas for high-rise apartments aims to build 800,000 homes over the next decade. But will it actually make housing more affordable?
Developers are facing rising costs, with construction prices jumping by 30-40% since the pandemic. As a result, analysts argue that apartment prices need to increase by at least 15% for these projects to even be viable. In the case of the $1.57 billion Vicinity Centres project, each apartment comes with a staggering $923,529 price tag—far from affordable for many buyers.
The harsh reality is that escalating costs and labour shortages are the real barriers to housing supply, not just planning restrictions. As Melbourne’s population booms, is high-rise development really the solution, or should we be rethinking immigration levels driving this extreme demand?
What’s Next?
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