Melbourne’s apartment boom overshadows government projections

There are 42 more buildings proposed for the CBD on the planning minister’s desk (The Age)

Melbourne’s residential apartment boom is set to leave the central business district, Southbank and Docklands flooded with dwellings far outweighing the requirements predicted by the state government.

A research project by RMIT over the past nine months has found there are about 85,000 apartments and new residences either built or in the pipeline in Melbourne’s central city area in the decade between 2011 and 2021.

The government’s own Victoria in Future study, released in May, shows about 43,000 new dwellings needed for the area over the period covered by the RMIT analysis.

However, Planning Minister Matthew Guy continues to sign off on skyscrapers in the city and at the new suburb of Fishermans Bend, and last week shrugged off concerns there was a looming oversupply problem for Melbourne.

On Sunday, his spokeswoman said: “Any suggestion the government has or will approve anything like 85,000 apartments in central Melbourne is utterly false and grossly misleading.”

Read the full story by Clay Lucas and Timna Jacks, The Age on 29 September 2014.

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