An end to housing affordability in Melbourne?

This study explains why housing prices are amongst the highest in the world and why this has occurred despite the Melbourne 2030 compact city policy planning initiatives. Melbourne 2030 has failed because developers cannot build medium density apartments at an affordable price. The study also shows that because of the price hike in established suburbia, half of Melbourne’s growth in the dwelling stock during the 2000s has been built on new estates on the fringe. However this safety valve is also closing because of the escalating costs of subdividing land in these estates.