Urbanization, Population Growth And Housing Crisis
15 May, 2022
Melbourne has long been rated as one of the most liveable cities in the world. But as it urbanises, the people who live there face issues, including the environment, transport and housing. Melbourne's current population is 5.151 million in 2022, an increase of approximately 3.7 per cent from 2020.
Housing is a significant crisis facing Melbourne right now. The population continues to rise, straining the housing market. People here also lack access to adequate, affordable housing.But more expensive rents, denser housing, and a big city where people make an effort to survive.
Real estate Shortage
1 June, 2022
In the 2021-2022 budget announcement, the Victoria state government proposed 50% and 100% local stamp duty concessions for Melbourne. Applicable to new homes within one year of completion and more than one year old respectively, this announcement not only attracts a large number of buyers, but also provides more benefits for buyers who want to enjoy urban living on a limited budget.
However, with the opening of Australia's borders, the influx of immigrants and international students has greatly increased the demand for housing. KIN real estate consultant Michael said,
"The more people in Melbourne, the greater the demand for housing. Although Melbourne's house prices have risen, the problem is that the housing market is in short supply."
Homeless Problem
1 June, 2022
Homeless are often seen on the streets of central Melbourne, this is the place with the largest flow of people, and people passing by will provide them with meagre help. Homelessness has always been a problem plaguing Australia. Rising house prices and rents have stopped many housing demanders, and housing shortages and lack of affordable housing have led to more homelessness.
Yet this is a crisis across the city, with a rapidly growing population and an undersupplied housing market, with Melbourne facing its worst housing crisis to date. Nearly half of those experiencing the housing crisis also live in highly dense, severely overcrowded environments. Melbourne is fighting an uphill battle to end homelessness without enough affordable housing.
A New Home For The Homeless
26 May, 2022
Multiple units at Queens place were purchased by the state government as part of the Homeless to Families program. These apartments are used to assist and accommodate long-term housing for the homeless. Queens place is a luxury skyscraper in Melbourne CBD. Although the rent is very expensive, the high-quality living environment is loved by home buyers and renters.
Although this program largely helps the homeless, as well as their housing problems. But for the residents began to be full of insecurity. A resident of the apartment, Gary said, "I see strange people all the time, and this building makes me worry."
Although this program largely helps the homeless, as well as their housing problems. But for the residents began to be full of insecurity. A resident of the apartment, Gary said, "I see strange people all the time, and this building makes me worry."
Shops In Queen Street Plaza
15 May, 2022
At 10 am on Sunday, Queen Victoria Market in Melbourne's CBD began increasing traffic. Many shops have started their daily business, but the vegetable shop still doesn't have many customers, although the goods are very fresh.
As the largest open-air market in the southern hemisphere since the 19th century, there are more than 600 stalls. But during the Covid-19 lockdown, it hit many shops. Some shops owed high rents in this area, and some chose to move out of this area because they could not afford the rent. However, the remaining shops have not too much improved. The changes in the pace of life and the rising cost of living are all the big challenges of urbanization.
As the largest open-air market in the southern hemisphere since the 19th century, there are more than 600 stalls. But during the Covid-19 lockdown, it hit many shops. Some shops owed high rents in this area, and some chose to move out of this area because they could not afford the rent. However, the remaining shops have not too much improved. The changes in the pace of life and the rising cost of living are all the big challenges of urbanization.
Expensive Rents: Aurora Apartment
20 May, 2022
Aurora Melbourne Central in Melbourne CBD is popular for its unique architectural shape. This apartment is the third tallest building in Melbourne and the largest residential project. There are a total of more than 500 units in the apartment, which is a densely populated area.
It is worth noting that it is currently the only apartment in Melbourne that has a dedicated channel directly to Melbourne central station and the shopping center. Expensive rents keep the vacancy rate high for this apartment, despite its most convenient location in Melbourne. Market price, one-bedroom rents over $550 per week.
Dense high-rise residential
20 May, 2022
Melbourne Southern Cross Station is the area with the most high-rise apartment residences outside of Melbourne CBD. Dense high-rise buildings erected beside the street make people breathless and create a sense of fear. The homes lacked good light and air quality for occupants and also degraded the quality of the streets and parks below.
Tall and dense buildings are gradually being completed due to weak policies for high-rise development decisions in central Melbourne. While these high-rise housing plays an important role in providing urbanization with commercial and transportation supplies, there is a lack of consideration for the street and the residents within.
Tall and dense buildings are gradually being completed due to weak policies for high-rise development decisions in central Melbourne. While these high-rise housing plays an important role in providing urbanization with commercial and transportation supplies, there is a lack of consideration for the street and the residents within.
High rents
2 June, 2022
Melbourne, one of the nation's largest property markets, has been hit hard by falling house prices. Despite the Victorian government and new policies aimed at improving the well-being of first-home buyers and those on low incomes, Melbourne's property market remains exhausted and has affected the related rental market.
As Melbourne's economy has gone through six coronavirus lockdowns, large numbers of migrants and visa holders have been denied access to the local market due to border closures. Now that the border has been opened, demanders are flooding into the market, resulting in a supply shortage. The rental market has tightened across the city, pushing Melbourne house rents to record highs.
As Melbourne's economy has gone through six coronavirus lockdowns, large numbers of migrants and visa holders have been denied access to the local market due to border closures. Now that the border has been opened, demanders are flooding into the market, resulting in a supply shortage. The rental market has tightened across the city, pushing Melbourne house rents to record highs.
Construction Crisis
4 June, 2022
This is the multi-million-dollar West Side Place large residential project in West Melbourne, which has been affected by the recent collapse of construction companies. Previously, the Tower 3 and Tower 4 had to be suspended due to the new crown. Although construction workers are gradually returning to work, the shortage of materials and labor has prevented the construction progress.
The largest residential project in Melbourne, which started in 2015 with four residential towers, is now completing two and is expected to be completed this year. According to experts, Australia's construction industry is now in "crisis" mode, facing labour shortages and rising material costs. Construction companies are facing difficulties and have a huge impact on the supply of housing.
The Rise of The Rental Market
June 4, 2022
Dockland has multiple rental-only unit buildings to attract long-term renters. These apartments have beautiful sea views, and despite their average weekly rent of $100 more than a standard units apartments, it is still popular with long-term renters.
Thousands of rental units are being built in the city, and the number is expected to double every year. Rental units in Melbourne could solve many fundamental housing problems, it also helps ease Melbourne's housing burden. In 2020, Land tax relief in Victoria had boosted the construction sector, which only offers rental units. However, with the increase in rents, the current situation of the rental market is not optimistic.
Thousands of rental units are being built in the city, and the number is expected to double every year. Rental units in Melbourne could solve many fundamental housing problems, it also helps ease Melbourne's housing burden. In 2020, Land tax relief in Victoria had boosted the construction sector, which only offers rental units. However, with the increase in rents, the current situation of the rental market is not optimistic.
