|In this e-newsletter|
|– Set the Scene|
– Advocacy in Action: Supporting the Apartment Sector
– Updated COVID-19 Industry Guidelines, Effective Immediately
– Advocacy Win: Regional ICP Rollout Paused
– Victorian Winners of the 2021 UDIA National Awards for Excellence
– Government Policies and Announcements
– In the Media
Set the Scene.
- In March, the median house price rose to new heights in Melbourne passing the $1 million mark, while regional areas saw the median house price surpass $500,000 for the first time.
- ANZ research presented to UDIA Victoria shows that at the peak of the pandemic, about 10 per cent of mortgages were deferred. That number has decreased to less than 1 per cent, so we’re not going to see a flood of properties come to market due to the end of the banks’ mortgage holiday.
- While the number of new property listings is up really strongly in Melbourne, the number of total listings is still really low. This tells us that listings are getting snapped up really quickly and keeping overall housing supply low.
- The number of apartments/units completed across Victoria is expected to plunge from more than 16,000 this year to just 800 in 2024. UDIA Victoria is cautioning that that this will result in an acute city-wide shortage in the coming years.
Advocacy in Action.
The Victorian State Budget will be handed down on 20 May and in both public and private communications, we’ve mounted a strong case for it to feature support for our apartment sector.
UDIA Victoria CEO Matthew Kandelaars and President Ashley Williams have worked with The Age on a data-driven piece revealing how vital government action is to the future of Melbourne.
COVID Industry Update.
An updated version of the COVID-19 Guidelines for Victoria’s Building and Construction Industry have been released. The revised Guidelines (version 12) include updates on:
- The State of Emergency
- COVIDSafe Plan
- Workplace Mapping and QR Codes
- COVID Marshals
- Wearing Face Masks at Work
- Incolink/Protect Hardship Payments
- Government Assistance
Please note that there is no change in these Guidelines to the Density Quotient for crib rooms and amenities on building/construction sites – the quotient is 1 person per 2 sqm and the overarching requirement of physical distancing 1.5 metres remains in the interests of best practices in our industry.
Advocacy Win: Regional ICP Rollout Paused.
In March, we proposed to the Victorian Planning Authority that they pause the implementation of Infrastructure Contribution Plans in regional settings, and re-assess once the Government’s Infrastructure Contributions Advisory Committee has delivered its review and recommendations on the broader ICP system (due later this year). We recommended that in the interim, the current DCP system remain in place.
The VPA took our recommendation to the Minister for decision, and we can now confirm the VPA is pausing work on the rollout of the ICP system to the regions.
We commend the VPA for their collaborative approach, as we work closely with them and the Infrastructure Contributions Advisory Committee, to provide insight into the operation of the ICP, DCP and GAIC models.
Victorian Winners of the 2021 UDIA National Awards for Excellence.
A huge congratulations to our outstanding VIC winners in the 2021 UDIA National Awards for Excellence.
Announced yesterday at the UDIA National Summit, the Victorian winners who brought home the gold are:
Small Scale Development
Howard West, by C Street Projects
Napier Street Social Housing Redevelopment by Unison Housing
Diversity in Development
Nick Clements – Tract Consultants
Well done to all our winners and finalists. We are so proud to have you represent us on the national stage.
Government Policies and Announcements.
- Stronger, Permanent Planning Controls for Yarra River.
Planning controls have been announced that include mandatory height limits and a minimum mandatory setback on the Yarra riverbanks. Read more.
- Bringing Shovel Ready Projects Online.
Minister for Housing Richard Wynne has announced $80 million for rapid response housing projects, delivering at least 239 new homes across Victoria. Read more.
In the Media.
- The Age: Melbourne apartment building rates ‘to fall off a cliff’
- Domain: Regional house prices will strengthen, even if the tree-changers leave
- ABC News: Housing boom may be halted by regulators or economic trends, analysts warn
- ABC News: The Reserve Bank could be stuck in a battle with the federal government for economic control after the Budget
- Realestate.com.au: Pets planning in Melbourne high-rises