Changes to the zones protect Melbourne's future

The Property Council commends the Government on the reformed residential zones and believes they reach a fair balance between protecting Melbourne’s distinctive suburban character and catering for growth.

Property Council Victorian Executive Director, Sally Capp, said the industry understands some of the concerns the community has regarding increasing densities and wants to work with them to ensure that Melbourne can grow while maintaining our enviable livability.

“The new garden area requirement guarantees that the leafy suburbs will remain so, while the ability to build more than two dwellings on a lot increases housing supply. This allows for more diverse housing, that is respectful of its location, to be supplied in appropriate areas.”

“The removal of the restriction on the number of dwellings on a lot is a positive initiative that will provide more housing for first home buyers, families and downsizers to remain in place, in their own community.”

“How these positive planning policies marry up with the Treasurer’s recent announcements is of interest to many in the industry. The abolition of stamp duty concessions for all off-the-plan purchases with over $550,000 in dutiable value could derail the positive effect of these changes. As townhouses generally have a higher land value component than apartments, this could mean that now many will not be able to access the concessions. This may create a slowing of the market despite the changes to zoning increasing the number of opportunities,” said Ms Capp.

We are working with Government to identify how these policies work together to achieve their mutually desirable outcomes of diverse housing supply accessible to all parts of our community.

“We believe that this rezone is an encouraging step taken by the Government to ensure that appropriate housing options are available in Melbourne’s suburbs. This will produce homes that give people the opportunity to stay in the suburbs they have grown up in.”

Media contact: Sally Capp | M 0439 983 963 | E scapp@propertycouncil.com.au