Re/Discover Your City with Open House Melbourne
Open House Melbourne is the largest built environment festival in Australia, celebrating the significance of good design in shaping communities. In 2023, it attracted nearly 60,000 participants who explored over 710 buildings, enjoyed tours, exhibitions, and engaged in conversations about Melbourne's future. For 2024, the theme "RE/DISCOVER your City" invites people to explore Melbourne's unique places and spaces anew on the weekend of July 27-28. Highlights include the Open FRAME photography competition, celebrating the 50th anniversary of Victoria's heritage legislation, with entries capturing treasured sites and objects from the Victorian Heritage Register. This year promises innovative experiences aimed at making the festival sustainable and engaging for all.
Melbourne’s Property Landscape: A Tale of Two Markets
In a recent report from the Australian Financial Review, Melbourne's property market was showcased for its strong performance, particularly for house sellers who are experiencing significant financial gains. Areas including Port Phillip have seen median gross profits soar, reflecting the high demand for quality housing. This surge in profits, despite the slower price growth across Melbourne overall, underscores the city's resilient and lucrative property sector. Although the unit market in Melbourne has faced challenges, the outlook remains positive. Many first-time buyers and city dwellers are now eager to invest in units, driven by the return to city life and work. Recent months have seen a steady increase in unit prices, indicating a recovery trend that bodes well for future growth. Melbourne’s property landscape is thus a tale of two markets: houses continue to provide substantial profits, while the unit market is on the cusp of revitalisation. This dynamic highlights the city's diverse real estate opportunities and suggests a promising future for both house and unit investors.
Update on Fishermans Bend Primary School (interim name)
The Victorian Government is constructing a new primary school on Williamstown Rd in Port Melbourne, set to open in 2026 with capacity for 650 students from Prep to Grade 6. Funded by the 2023–24 State Budget, the school aims to meet the educational needs of the growing local population, particularly in the expanding Fishermans Bend area. Currently in the design phase, the project involves collaboration with government departments, architects, and education experts. Plans include selecting a builder by late 2024 and starting construction shortly after, with a focus on creating modern learning environments and ensuring community access to facilities outside school hours, alongside prioritising road and pedestrian safety around the school premises. Subscribe to their mailing list for updates.
Fishermans Bend Awaits Rail Boost: $3.4 Billion in Projects Hinges on Transport Commitment
The Fishermans Bend Business Forum welcomes the Victorian Government’s announcement of the Melbourne Metro 2 project, a critical new rail line intended to enhance connectivity for the burgeoning Fishermans Bend area. This infrastructure upgrade promises to significantly benefit the local business and residential community. However, the Forum emphasizes that timely action and clear timelines are essential to realize the full potential of this transformative project.
Linda Norman of the Fishermans Bend Business Forum, expressed cautious optimism regarding the government’s plans. She underscored the necessity for immediate and definitive steps to ensure that the project progresses without delay. “While we are pleased with the progress, it is imperative that the Victorian Government provides specific timelines and funding commitments for Melbourne Metro 2,” said Norman. “This clarity is vital for developers, educational institutions like the University of Melbourne, and other stakeholders who have faced significant delays due to inadequate transport infrastructure.”
The Forum’s concern is echoed by developers and businesses within the Fishermans Bend precinct, many of whom have faced obstacles in moving forward with their projects due to the lack of reliable public transportation. Despite the government’s introduction of additional bus services, the absence of promised tram lines has further hampered progress and eroded confidence among investors. The pressing need for improved connectivity has been highlighted by the University of Melbourne, which has postponed plans for a new campus in the area due to ongoing transport challenges.
According to BCI Central, the Fishermans Bend area has approximately $3.4 billion worth of proposed projects, ranging from planning stages to active development. Yet, the uncertainty surrounding public transport has left many projects in limbo. The business community is eager for a reliable transport link to attract investment and facilitate growth. The recent decision by Dexus to sell a 2.2-hectare site for $30 million, significantly less than anticipated, underscores the urgency for improved infrastructure. Guy Naselli, Vice President of the Fishermans Bend Business Forum and Managing Director of NSL Property Group, pointed out that businesses are reluctant to commit to investments without assurance of effective public transportation. “We know of several businesses that are holding back on making investment decisions until they see tangible progress on the Metro 2 project,” said Naselli. “A robust transport system is crucial for their employees and for the overall development of Fishermans Bend.”
The Fishermans Bend Business Forum remains steadfast in its advocacy for the Melbourne Metro 2 project, urging the Victorian Government to expedite funding and provide clear timelines to ensure that the Fishermans Bend precinct can fully realise its potential as a thriving hub for business and innovation.
