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Ph (03) 9600 1111
Fax (03) 9278 8830
Level 9, 365 Queen St
Melbourne, Vic 3000
Australia
Southbank Central
Inspect at
191 CityRoad Southbank
Melway: 1D M6
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News & Editorials
Every week Central Equity writes a number
of news editorials which appear in Melbourne newspapers. This weeks article is posted below.
Click here
to access our archive of news editorials
6/08/01
MELBOURNE INNER
CITY BOOM
A new study just released,
"The Big Shift", researched by author Bernard Salt who is a property
consultant for accounting firm KPMG, reports the rise of inner city
living across our major capital cities in Australia.
The new study has found that there is a growing Australian trend and
preference for inner city living and the modern city lifestyle. In
Australia today, about 5% of the country’s population or 1.01
million people live in inner cities, defined as an area within five
kilometer of the city's center or Central Business District.
Findings from the study has suggested that Melbourne has led the way
in inner city living, outpacing Sydney, which has experienced strong
growth in the earlier years. Melbourneís inner city has had a burst
of inner city residential development in such suburbs as Beacon Cove
and Southbank.
In Southbank, for example, leading Melbourne inner city residential
developer Central Equity Limited reports the area is currently very
popular and the demand for inner city dwellings is buoyant. Central
Equity has completed approximately 70% of the total residential development
in Southbank, and the new suburb with its own postcode of 3006 is
now well established as one of Melbourne's residential hot spots and
has the highest proportion of high-income earners in town.
This inner city boom can be reflected in the population growth in
the city. In June 1993, Melbourneís city dwellers numbered 167,659
and this has since increased significantly to 199,289 by June 2000.
In the study, Bernard Salt observes that this geographic shift from
suburbia to the inner city represents a cultural change, that Australian
urban values are changing – people are lured to live near work
and enjoy the convenience and proximity to the city’s shops,
restaurants, entertainment and other services and facilities.
The study also acknowledges that a reason for the change has been the
preparedness of developers to build residential dwellings in the inner
city, which has helped to meet the growing demand for city apartments.
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8/06/01
5/05/01
28/04/01
7/04/01
30/03/01
14/02/01
10/02/01
2/02/01
6/01/01
23/12/00
16/12/00
9/12/00
25/11/00
18/11/00
11/11/00
4/11/00
28/10/00
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 for other articles please visit our archive.
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