If you've recently considered investing in Victoria, then it's likely that you've heard of Plan Melbourne. It's the state government's metropolitan planning strategy, set to guide the city's growth right up until 2050.
The Plan will target housing, employment, and transport and expects to build confidence and investment in Melbourne and Victoria.
Housing is a hot topic for Plan Melbourne, and in a recent announcement it was revealed that most of Melbourne's residential zoned land will be protected from unit and apartment development. That's good news if you're looking for a stable investment, such as property in Brunswick.
"Today marks an historic day for residents across metropolitan Melbourne who can now breathe easier in the knowledge that the majority of residential areas will be protected from unit and apartment development," said Premier Denis Napthine and Minister for Planning Matthew Guy.
This is a significant decision, especially considering it has been estimated that by 2050 the city's population will reach 6.5 million, requiring at least one million new homes.
However, new housing will focus on dense development in defined locations, not just any quiet suburb. The quality and amenities of residential apartments aims to be improved and more diverse housing will be targeted in growth areas, keeping Melbourne's quiet suburbs serene.