Urban.com.au recently undertook an analysis of their database to determine the top 20 Melbourne suburbs for apartment developments.
Not surprisingly, given the unprecedented population growth experienced by Victoria’s capital, the Melbourne CBD is leading the charge in pole position with 20,035 dwellings in the development pipeline.
Southbank, which is set to become home to some of Australia’s tallest skyscrapers including the under construction Australia 108 and the recently announced Green Spine, sits comfortably in second place with 10,000 more dwellings projected than South Melbourne in third spot.
Within the top 10, Box Hill and Doncaster defy the trend of inner Melbourne suburbs with extensive development pipelines. Closer to the city within its middle ring, the likes of Brunswick, Moonee Ponds, Coburg all feature within the top 20.
There are many middle-ring Melbourne suburbs with over 1000 dwellings in the development pipeline including Carnegie (1602), Essendon (1527), Northcote (1407) and Maribyrnong (1279) which all sit outside the top 20.
Footscray and South Yarra share many things in common. Both are similar distances from the centre of Melbourne and are equally well serviced by rail, however it might come as a surprise to many that Footscray is actually leading South Yarra in development terms with almost 2500 more dwellings.
Collingwood (2668) outstrips Fitzroy (1169, ranked #35) by a long margin and Preston (3369) is way out ahead of all the other suburbs on the High Street / South Morang corridor.
The big numbers associated with the suburb ‘Melbourne’ can largely be attributed to the fact St Kilda Road as well as the CBD are included. However, when we limit the numbers exclusively to postcode 3000, there are still over 18,000 dwellings in the pipeline.
The number of dwellings below is for all projects on the Urban.com.au project database across all four main statuses – Planning Assessment, Approved, Registration & Sales and Under Construction.
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