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Essay / Unaffordable Housing in Melbourne - 1839
Within the housing market in Melbourne, and indeed in all Australian cities, house prices have rapidly increased to a level where there is now a severe lack of affordable housing for homebuyers on a median basis. salary. In Melbourne, this caused the median house price to staggeringly rise above $500,000. As we will see in this article, the role of the planning system is undoubtedly a key protagonist in this lack of affordable housing. As part of the data and evidence reviewed, it will be highlighted how the planning approval process, with its excessive 'red tape', inefficiencies and inconsistencies, as well as other aspects of the statutory planning system in Melbourne, have undoubtedly posed a major obstacle to securing housing. prices become more affordable. However, before advancing these arguments that hold the planning process as primarily responsible for the housing affordability crisis, we will examine other explanations that point to broader economic and urban policies. Additionally, the article will examine how planning regulations influence the supply side of the housing market by restricting access to land and making homeownership an unattainable goal for median income earners in Melbourne and in other Australian cities. Across the world, affordable housing remains a major issue in the management of the economies of cities and regions. In Melbourne's property market, this is most certainly the case, with a recent study showing that Melbourne ranks 321st on a list of the 325 most affordable property markets in the world. What's more, according to another study by Monash University population expert Bob Birrell and VicUrban market research director Colin Keane, late last year only three of... . middle of article......only defined to get worse unless a solution is found. Although several wider economic and political issues have been put forward as common explanations for the current crisis, this article argues that legal planning measures, inefficiencies and costs are the main factors behind the serious lack of financial accessibility in the housing market. It can be seen that while housing affordability is clearly a significant concern for home buyers in Melbourne, current legislative planning fails to include more comprehensive measures for the provision of affordable housing during the processes. of urban growth and change. Therefore, this paper endorses and advocates a broader reform agenda for Australian and Victorian planning, going beyond procedural change to include a range of other planning measures designed specifically to support the inclusion of affordable housing within communities..