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300,000 new lots to be released in Melbourne if opposition leader Matthew Guy is elected.

Updated: Jul 10, 2018

3min read | by Mark Di Paola

Opposition leader Matthew Guy has thrown his first punch at tackling housing affordability.

If elected in the upcoming November 2018 state election, he has promised to unlock and fast track the release of nearly 300,000 new lots in Melbourne’s Western, Northern and South Eastern growth corridors by mid-2020.


Some of the key points of Matthew Guy’s plan and how they relate to the home & land industry:


1. Matthew Guy has promised to financially penalize authorities who are causing unreasonable delays.

Over the last 2-3 years with increasing numbers of lot sales this has been one of biggest developer frustrations. In a previous MDPtv title update video I touched on ‘waiting for authorities to conduct their audits’ namely the authorities for water, sewage and power.

In some instances, booking an audit can be delayed months, well beyond acceptable and past industry norms. This causes huge issues in being able to effectively forecast title completion dates and keep purchasers properly informed not to mention delay title delivery. With the possibility of financial penalties in place this could ensure minimum standards are met and a stage under construction doesn’t sit dormant with only the final checks and balances required to obtain Statement of Compliance (SOC) and title to be achieved.


2. All the lots will be within the current Urban Growth Boundary which was expanded in 2012 (UGB or UGZ)

Meaning Matthew Guy will not be seeking to extend urban sprawl, instead bring more lots to market in Melbourne’s growth corridors, areas already green-lit for home development.

While Melbourne is expanding rapidly it is important for infrastructure needs to be continually met that development is contained within key selected areas.


"My plan is to deal with what we have in our growth boundary [and] put a full stop at the end of it. And then start focusing government on our decentralisation agenda," Mr Guy said.


The suburbs to be affected by Matthew Guys plan will be within the following municipalities: Melton, Wyndham, Hume, Whittlesea, Mitchell, Casey and Cardinia.


Over the past 12 months the Melbourne median land price has grown more than 30%. A key driver of such a rapid price growth is a shortage of supply caused by record levels of demand and same day release sell outs. Faster planning approvals would mean developers could deal with demand by be able to bring a steadier supply of land to market with less time between releases.


Some key considerations:


Infrastructure:

Any plan looking to increase the supply of new housing needs to be matched with an equally solid plan to provide the relevant infrastructure to build a sustainably community for residents to live. Important amenity such as schools, roads, transport and recreational spaces are essential for high quality of life. It is important residents aren’t forced to wait years for this key infrastructure to be delivered.

Mr Guy said there will be announcements in the coming months with relation to his infrastructure plans, we look forward to these being revealed.


Delivering Sustainable Communities:

The above plan would no doubt be welcomed by Victoria’s leading developers but will bring with it a responsibility to create more livable communities. Aspects such as walkability, useable recreational spaces and innovative and affordable product solutions will need to be more well thought out and planned to ensure residents aren’t penalized but rewarded for choosing to live on Melbourne’s city fringe


Developer/Local Council Cooperation:

Recently completing an International Study Tour with the Satterley team one key realization was the opportunity in Australia to improve our private/public partnerships when building new communities. In the U.S particularly there were many examples where successful communities were innovatively built on the back of these key partnerships and could possibly not otherwise have gotten off the ground


Through better thought leadership and open discussion between government at all levels and private enterprise we can more effectively create partnerships to ensure our country remains one of the most livable; providing world leading spaces for our future generations to grow, live and play, for many years to come.


Watch the video below and feel free to comment your thoughts on this.


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