south east melbourne report
TRANSCRIPT
Built For Your Success Specialises in cutting-edge
commercial property development
Author: Ruben Fuentes
www.istructaustralia.com.au
SOUTH EAST MELBOURNE
2030How will it grow?
MELBOURNE’S POPULATION IS GROWING AT A STEADY RATE
5.8 million (2030)
4.44 million (mid-2014)
MELBOURNE’S POPULATION IS GROWING AT A STEADY RATE
BY 2030, METROPOLITAN MELBOURNE WILL GROW FROM 4.35 MILLION PEOPLE TO 5.8 MILLION PEOPLE
THE OPPORTUNITY
CENTRAL
WESTERN
NORTHERN
EASTERN
SOUTHERN
+260,000
+370,000
+470,000
+200,000
+480,000
+129,489
+157,419
+157,895
+79,862
+171,309
+320,000
+125,000
+140,000
+100,000
+170,000
+32%
SOUTHERN & EASTERN SUB-REGION
Jobs%Growth:%
BY 2030, METROPOLITAN MELBOURNE WILL GROW FROM 4.44 MILLION PEOPLE TO 5.8 MILLION PEOPLE
30,000 new dwellings per year will be needed in the Melbourne metropolitan area
If current trends continues for the next 15 years
More jobs will also be needed
The top two employment growth regions in Australia (2013-2108 projected)
Melbourne West
Melbourne South East
The Victorian economy has been transitioning from manufacturing to services for many years
manufacturing
services0% 2% 4% 6% 8% 10% 12% 14% 16%
Public administration and safety
Transport, postal and warehousing
Wholesale trade
Education and training
Retail trade
Construction
Health care and social assistance
Manufacturing
Professional, scientific and technical services
Financial and insurance services
2014
2004
2001
Percentage of jobs in services industries:
Services 67%
Other 33%
2011
Services 61%
Other 39%
2001
Growth services include:
Financial & Insurance
Scientific & Technical
Health Care & Social Assistance
Public Administration & Safety
The South East corridor has historically been the fastest growing, primarily through residential development
It is well served by major retail centres:
Chadstone Fountain Gate
Frankston Knox City
The region includes 2 of Melbourne’s 3 established National Employment Clusters:
Monash Employment Cluster Dandenong South Employment Cluster
“National Employment Clusters are designated concentrations of integrated
businesses and institutions that make a major contribution to the national economy and
Melbourne’s position as a global city.” (source: Plan Melbourne)
Monash Employment
Cluster
58,500 jobsA unique mix of
education, research & industry
Monash Employment
Cluster
Significant Employers
Monash University (Australia’s largest)
The Australian Synchrotron
The Melbourne Centre for Nanofabrication
Monash Medical Centre
Monash Business Incubator
The CSIRO’s largest site in Victoria
Monash Employment
Cluster
Key Partners
City of Monash City of Kingston
City of Greater Dandenong Monash University
Monash Medical Centre The Australian Synchrotron
CSIRO Monash Business Incubator Monash Enterprise Centre
Chadstone Shopping Centre
Dandenong South Employment
Cluster
12,500 business 55,000 jobs
30kms from the CBD
Manufacturing Health – Hospital
Education – Chisholm & Kangan Transport / Logistics
Warehousing
Dandenong South Employment
Cluster
Victoria’s first eco-industrial park, LOGIS, which features a 74-hectare
Innovation Park
Dandenong South Employment
Cluster
Victoria’s first industrial development to achieve a 5-star Green Star Industrial
Design rating
Dandenong South Employment
Cluster
Rail network Monash Freeway Princes Freeway
Eastlink
Dandenong South Employment
Cluster
Vital transport infrastructure:
Port of Hastings South East rail freight link
South-East Airport
Dandenong South Employment
Cluster
Possible future additions to
transport infrastructure:
People have a strong preference for living close to services & amenities
(including education & health care facilities, transport hubs & retail centres)
The housing equation:
renter’s market apartments are popular
significant overseas investment in property older residents (in particular) are looking
for semi-detached dwellings
Major infrastructure projects – including rail network upgrades, the development of the Port of Hastings, a freight hub, & a south-east airport – would impact on
both the employment & residential landscapes
Summary
Melbourne is moving to a
services economy
Melbourne is growing rapidly in the east and
south east The population breakdown is skewing older (& younger)
Summary
There is an undersupply of semi-detached
dwellings & apartments
There is a need for employment in
growing sectors like health & education
There is need for housing close to services & amenities
Summary
There are significant opportunities for investment and development through the south-east Melbourne corridor, however
picking a site that fits the purpose is crucial
Thank you
State of Victoria for use of information
MacroPlanDimasi additional background
Ruben Fuentes is the Managing Director of iStruct Australia Pty Ltd, Australia's boutique commercial property development company that is "Built for Your Success”.
Ruben believes that by cultivating broad interests across a wide range of construction, design, development, and management topics, iStruct is better placed to understand the needs of each client and the best ways to meet them.
About the Author
Connect with Ruben on LinkedIn: https://www.linkedin.com/in/rubenmfuentes
Follow Ruben's blog on the iStruct website: http://www.istructaustralia.com.au/blog
Contact Ruben via email: [email protected]
Ruben Fuentes