NEW RESEARCH: UDIA Residential Development Index (RDI)
We have again proudly partnered with the Urban Development Institute of Australia (Victoria) to support delivery of the Residential Development Index Report.
The bi-annual report measures the health of the residential development industry by exploring economic conditions, population growth, development activity, trend date, regulatory changes and policy implications.
Some of the findings of the most recent FY18/19 report include:
- The demand and supply gap in Melbourne is expected to exceed 4,500 dwellings
- The middle ring of Melbourne is forecast to experience a decline in building approvals for dwellings of 27%
- Building approvals for dwellings in the outer ring of Melbourne is expected to increase by 4%
- Greater Geelong is expected to see an increase in dwelling approvals of 34.2%
- Melbourne’s established areas need to deliver approximately 42,500 dwellings per year
- The residential development sector is forecast to support 189,000 full time, part time and casual jobs across the Victoria economy in FY18/19
- It is expected that in FY18/19 the construction of residential dwellings and the associated infrastructure will generate approximately $21 billion in economic activity in Victoria