Melbourne Expects Construction Boom to Continue

Coming into 2023, Melbourne will see over $2.5 billion invested for new development applications from developers. The City of Melbourne, responding to the city’s growing property market, will weigh up the highest number of planning bids in over 3 years.

Deputy Lord Mayor Nick Reece said this was a “testament to the resilience of Melbourne” following the devastation of the pandemic. The construction industry is already booming once again, with many development applications being processed already.

“The buzz is back” Reece exclaimed, explaining that Melbourne is reviving steadily with the return of residence occupancy and hospitality.

Over 600 planning applications worth around $800 million have graced Town Hall in 2022. 15% of these are for amendments to existing permits bit 85% are for new developments.

“As development interest continues to grow, it’s never been more important for the City of Melbourne to prioritise high quality design, architectural and amenities, to ensure the best outcomes for everyone who lives, works, studies or visits out city.” Mr. Reece said.