Hayball Director Rob Stent explores the key differences between residential development models in Melbourne and Sydney in his latest Property Observer column
What governments do and don’t do can affect the quality of our lives in terms of where we live and the type of housing we live in. We are increasingly turning away from the conventional form of the detached housing, demonstrated by 2011 Census figure that show a 66.7% increase in flat or apartment living from 2001 to 2011.
It is important that governments understand the change in our increasingly diverse society and its housing demands. No doubt market driven supply and demand are drivers of much of the housing stock on offer, but what is less acknowledged is the impact of intervention of governments through regulation.
There are differences between Victoria and NSW that have influenced housing choices. These differences will become less pronounced if each government borrows from the other’s housing policies for multi-unit development.
Melbourne’s apartment boom has been part population growth and changing demographics and part aided by a regulatory framework that has been relatively unrestrictive in determining the size and configuration of apartments.