The Urban Development Program (UDP) monitors and reports on major residential redevelopment projects across metropolitan Melbourne. Major redevelopment projects are those comprising ten or more dwellings. Data is collected from administrative and commercial data sources and through analysis of aerial imagery.
These include projects which may have an existing planning permit, or are in the planning processes, those that are current under construction, as well as potential longer term projects on sites that local councils have identified for residential purposes.
A timing classification is attributed to each project based on commercial data sources, consultation with local councils, and the stage the project has reached in the planning process. The Urban Development Program reports on major redevelopment projects using the following categories:
Completed - Projects completed from Jan 2021 to Jan 2022
Under Construction - Projects under construction at Jan 2022
Firm - Projects that have been approved and/or taking sales enquires and registrations.
Likely - Projects that are within the planning process, projects with recently lapsed planning permits, projects that have been sold with a recent planning permit
*Possible - Early indicator of the location of future major redevelopment projects or projects that have been inactive for a number of years.
While the UDP acknowledges a proportion of proposed projects may be abandoned or delayed, the classification process provides an indicator of available supply provided there is sufficient demand. In addition, it is acknowledged there are also sites within the established parts of Melbourne that may be suitable for residential development into the future but have not yet been identified. The UDP will continue to report on these sites as they are identified for redevelopment for residential purposes.
It should also be noted that the timings attached to these projects are indicative. Construction rates can be cyclical in nature, and highly dependent on underlying demand and pre-sales, economic cycles and industry capacity. This can mean that stated development intentions will vary from on the-ground construction activity over time and by location.