Melbourne's Growth Plans Fast Tracked

The popularity of Melbourne real estate has seen the Victorian capital's decision makers address the issue of future growth.

Now, it seems that some of those plans will be fast tracked.

The Victorian Coalition government will fast track road development and other core infrastructure under new guidelines released be Planning Minister Matthew Guy, according to a February 12 media release from the Premier of Victoria.

New guidelines help deliver infrastructure earlier

"The Growth Areas Infrastructure Contribution (GAIC) Works-in-Kind (W-I-K) guidelines will allow the development industry to deliver state infrastructure, earlier than would occur otherwise, by providing capital works, instead of paying the Growth Areas Contribution as cash," noted the statement.

The Melbourne 2030 plans address how the city will be able to grow sustainably in coming decades, as urban growth spreads further from the city centre due to surging demand for real estate in Melbourne.

Urban growth areas may help meet housing demand

Several areas have been identified as potential spots for future development by the Victorian Coalition government.

The news to fast track key infrastructure may interest those looking for Melbourne property for sale in the future, as the development of new urban areas may help spread out the supply of new homes.

"As people move in to new suburbs, we want them to have immediate and easy access to connected roads and transport, employment opportunities and nearby community facilities," Mr Guy stated.

Possible projects promising for Melbourne area

The new GAIC W-I-K guidelines open up several possible projects. They include a Hume freeway interchange, a new railway station in the northern growth corridor and a road overpass in the western growth corridor.

Mr Guy announced that the new guidelines offer a more efficient way to plan then deliver new infrastructure in these hot growth areas, which are spread out from Melbourne at various points.

The guidelines note what infrastructure can be funded to offset a GAIC charge. This includes freeways and arterial roads, cycling trails and footpaths.

Other infrastructure that could attract funding is libraries, health facilities, recreational centres, IT infrastructure and education facilities.

Future projects will be determined and monitored by the Metropolitan Planning Authority.

Mr Guy noted that those delivering infrastructure will work with the MPA to "lock-in realistic delivery times and get the best result".