The AFR has published a triumphant article about Victorian Planning Minister, Richard Wynne’s, approval of a new Melbourne suburb called Wollert in the city’s north, which will provide 15,000 new “affordable” homes:
Victorian planning minister Richard Wynne has delivered a major boost to affordable housing in Melbourne after approving a new 1434-hectare suburb in the city’s north that will provide 15,000 new homes.
The suburb of Wollert, 30 kilometres north of the CBD, will provide housing for 42,000 people as well as create 7000 jobs…
Melbourne has the country’s most affordable house and land market with a median price of about $240,000 for a 450 square metre lot…
Mr Wynne said the approval of Wollert was “all about promoting affordable housing and giving new communities the world-class services and infrastructure they deserve”.
“Approvals like these don’t just help cater for growing population, they keep the dreams of many would-be home owners alive,” he said…
The community will be a 10-minute drive from the existing train stations of Epping and Craigieburn…
“With projections that the population in Wollert will grow by 40 per cent by 2031… demand for land in the region is set to accelerate”…
First, only in Australia would $240,000 for a 450 square metre lot in the sticks be touted as “affordable”.
Second, with Melbourne’s population projected to grow by 97,000 people annually for the next 35 years (see next chart), this new suburb will soak up roughly 6 months of population growth only! I hope the Victorian Government is planning new releases like this each and every year ad infinitum.
Finally, the Craigieburn Train Line that would service the new suburb is already Melbourne’s most congested, with 50% of morning services overcrowded. Heaven help them when tens-of-thousands more commuters are added into the mix.
The population ponzi meltdown continues…
