Growing up in Sydney, it was a no-brainer – we were the country’s premier city. We had great weather, pristine beaches, national parks and a strong economy. I have enjoyed every moment of this beautiful city.
Recently I have been pondering, could Melbourne be the country’s next premier city?
Earlier this month, the team and I spent a few days in Melbourne. Its diverse lifestyle offers a blend of bayside, trendy inner-city and suburban living. Identifying the right property within the right market is vital, and forms a significant part of our research model.Our research shows the answer is wholeheartedly “Yes!”
Recently the Victorian Government announced the release of the latest Victoria in Future paper, which shows upward trends in birth rates, life expectancy and migration for Victoria.
- Department of Environment, Land, Water and Planning, confirms Victoria remains the fastest-growing state in the country with population expected to reach 10.1 million by 2051.
- Life expectancy is projected to continue to increase – Victorians are living longer, and projections show babies born in 2015 will live to 80-88 for males and 84 to 90 years for females.
- Trends in living arrangements show there will be 4.1 million households in Victoria by 2051, meaning an additional 2.2 million dwellings will be required to house the population.
- While the majority of change will be in metropolitan Melbourne, strong growth is also expected in major regional centres.
- Other trends include the life expectancy gap between men and women closing, a rise in the number of people aged over 65 and a significant increase in the number of school-aged children.
- A 40-year decline in fertility rates has also levelled out and more children are expected to be born in 2051 than in 2000.
- In recognition of the challenges and opportunities this change will present for Victoria, the State Government said it has overhauled Plan Melbourne to manage growth and change over the next 30-40 years.
“We are planning for a bigger, better and even more liveable Victoria by investing in infrastructure, creating jobs, and encouraging more housing close to services, transport, education and employment,” said Acting Minister for Planning Jill Hennessy.
Melbourne continues to evolve, setting a benchmark for smart growth in order to remain the most desirable state to live and work in. Our research model, based on macro and micro factors, has identified strong growth potential in Melbourne.
So perhaps Melbourne is emerging as the new Sydney? I believe it has the potential, if only the sun would make more of an appearance.
Environment, Land, Water and Planning 2016. Victoria in Future. [ONLINE] Available at http://www.delwp.vic.gov.au/planning/forward-policy-and-research/victoria-in-future-population-and-household-projections?remap=delwp.vic.gov.au/victoria-in-future. [Accessed 13 September 2016]
Urbanalyst. Latest Victoria in Future paper predicts state’s population will reach 10.1 million by 2051. [ONLINE] Available at http://www.urbanalyst.com/in-the-news/victoria/4075-latest-victoria-in-future-paper-predicts-state-s-population-will-reach-10-1-million-by-2051.html. [Accessed 13 September 2016]