Infrastructure building in Melbourne

[eltonsky]

Greetings forumers!

I have to say I am impressed with the varieties and active levels in this property investment specific forum. Wish I've found it earlier...

Anyway this is my first post here and conventionally I start with a question on my mind.

I have been looking for a development site for townhouse or boutique apartments in Melbourne, for my first development. I was told it's good to trace the gov infrastructure building so that the value will be pushed up more. I read some articles saying vic gov is spending $13b in next few years to catch up with infra, to cope with increasing population. After some googling I found the "Plan Melbourne" released 2013 (as attached), but it is mainly on the big picture level. I also looked some council's website, didn't find any new stuff other than things I already know, e.g. ringwood activity centre in maroondah, costco in moorabin airport, etc.

Apparently I don't have connections within a council. I wonder :
0. Is it worthy looking into gov infrastructure constructions?
1. If so, how do you find them?
2. Are there any interesting infra constructions going on/ to start in Melbourne?

Cheers

 

[mflying]

i am not sure if all projected investment listed on one gov website or not.. all i know is current premier made a statement not long ago that

we will borrow money if we have to fund infrastructure.

so def lot of infrastructure investment is happening in vic.

Also lot of domestic and international migration happening in vic due to cheaper cost of living (Compare to Sydney) and better job opportunities.

 

[norwoodman]

For public transport related infrastructure projects:
http://ptv.vic.gov.au/projects/

For road related infrastructure projects:
https://www.vicroads.vic.gov.au/planning-and-projects/melbourne-road-projects

Most of the projects listed are quite minor in nature, but there are some larger ones in there.

 

[Peter_Tersteeg]

Google: "Melbourne 2030" or "Melbourne 2050".

Lots of information about infrastructure development, rezoning, etc. Very useful for those with a long term outlook.

 

[Deltaberry]

Biggest infra project is the metro subway in inner city. Alp doing a wealth transfer from fringe suburbs to inner city. Oh well not complaining.

 

[eltonsky]

Hi Guys,

Thank your for your inputs!

For public transport related infrastructure projects:
http://ptv.vic.gov.au/projects/

For road related infrastructure projects:
https://www.vicroads.vic.gov.au/planning-and-projects/melbourne-road-projects

Most of the projects listed are quite minor in nature, but there are some larger ones in there.

norwoodman, Thanks for the links.

I had a look at ptv projects. The new station projected in southland shopping centre attracts my attention. It's gonna start in the 2nd half of this year and finish in 2017. Looks like a good trigger for a boost. I will start another thread for that.

 

[eltonsky]

Google: "Melbourne 2030" or "Melbourne 2050".

Lots of information about infrastructure development, rezoning, etc. Very useful for those with a long term outlook.

Hi Peter,

Googling "Melbourne 2030" yeilds Melbourne 2030 - Planning for sustainable growth. In Direction 1 - A More Compact City, it lists activities centres around melbourne metro. I think I'd concentrate on the principle activity centres for the long term. It gives me a reason to look at suburbs like Frankston, Cranbourne, Narra Warren, Dandenong, Greensborough etc. which are not expensive atm but have potential to grow fast and being profitable.

BTW, do you guys refer to this info when you search a development site?

Cheers

 

[Beelzebub]

Okay guys, I think you need to be careful with some of this stuff and have a deep knowledge of the political process and town planning policy. Luckily I used to be a staffer so here are my two cents.

Firstly, Melbourne 2030 was put out by the previous Labor government, it was superseded by Matthew Guy's new planning document which simplified zoning rules: Some of Melbourne 2030 is nevertheless relevant. Just make sure you check that the document you are looking at is the current one. For example, the document that eltonsky linked was written under the Bracks Government.

Oh, and obviously there has been another change in government recently so double check again.

Governments also like to fund planning for things that never get built. Funding for planning or projects that are on the department website don't necessarily have any correlation as to whether they will be built any time soon. The Government will keep a skeleton crew to man it and do 'planning work' on it until they decide to ramp it up... This could take years. Roweville rail, Doncaster Rail, Flinders St Station redevelopment are all examples of this. Check the budget and unless there is funding for actual construction (not planning)in the forward estimates it's not happening.

Also, with a bit of reading between the lines, a good understanding of how the parties work, and knowledge of where and how marginal seats work, you can make pretty good speculative guesses as to where infrastructure will be built: even stuff that isn't announced yet.

Hope this helps
Beelzebub

 

[eltonsky]

Okay guys, I think you need to be careful with some of this stuff and have a deep knowledge of the political process and town planning policy. Luckily I used to be a staffer so here are my two cents.

Firstly, Melbourne 2030 was put out by the previous Labor government, it was superseded by Matthew Guy's new planning document which simplified zoning rules: Some of Melbourne 2030 is nevertheless relevant. Just make sure you check that the document you are looking at is the current one. For example, the document that eltonsky linked was written under the Bracks Government.

Oh, and obviously there has been another change in government recently so double check again.

Governments also like to fund planning for things that never get built. Funding for planning or projects that are on the department website don't necessarily have any correlation as to whether they will be built any time soon. The Government will keep a skeleton crew to man it and do 'planning work' on it until they decide to ramp it up... This could take years. Roweville rail, Doncaster Rail, Flinders St Station redevelopment are all examples of this. Check the budget and unless there is funding for actual construction (not planning)in the forward estimates it's not happening.

Also, with a bit of reading between the lines, a good understanding of how the parties work, and knowledge of where and how marginal seats work, you can make pretty good speculative guesses as to where infrastructure will be built: even stuff that isn't announced yet.

Hope this helps
Beelzebub

Hi Beelzebub,

Thank you for the insights. Looks like the plans and proposals on gov websites are just mirage. Like you suggested, looking at gov funding is a better/safer approach.

Cheers
Elton

 

[jpcashflow]

Hi

Hi,

I think in this current climate I would not be believing anything.
The east to west link new government and the project got canned...

When investing do not just rely on government projects also rely in private investment.