dataset: MRS2017

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 commercial data sources and through analysis of aerial imagery, and is verified through consultations with local council representatives. 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 (a project was completed from July 2015 to July 2016) ¿ Under Construction (a project was under construction at July 2016) ¿ Construction 0¿2 years (construction is proposed to start from July 2016 to July 2018) ¿ Construction 3¿5 years (construction is proposed to start from July 2018 to July 2021) ¿ Potential construction 6¿10 years (construction potentially from July 2021 to July 2026). Projects under construction are assessed as `supply¿. These projects will generally be occupied during the next reporting period. Some larger projects may take longer before they are fully occupied. Projects reported as potentially starting construction in 0-2 years have usually received planning approval and it is assumed that works will begin within two years. Projects reported as starting construction in 3-5 years are usually in the process of obtaining planning approval, or approval has been granted subject to conditions that mean construction is unlikely to begin within two years. Projects reported as potential construction over the next 6-10 years are more speculative in nature. These sites are generally identified by local councils as suitable for residential development but no planning proposals have yet been lodged. While the UDP acknowledges a proportion of proposed projects may be abandoned or delayed, the classification process provides an indicator of available supply by timing 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. This information maps both supply and recent development categories as; Supply >> 1-2years, 3-5years and 6-10years, Under construction Development >> Constructed