Nearly 20,000 homes now in CBD
The number of homes within the CBD has increased by 60 per cent since 2010, a recent report by the City of Melbourne has found.
The most recent Census of Land Use and Employment (CLUE) data, released last month, found that there are currently some 19,200 dwellings in Melbourne’s CBD, compared with 11,900 in 2010.
The census provides information about economic activity, tracks changes in land use and identifies key trends in employment.
It is collected through face-to-face interviews with every business in the Melbourne municipality.
The CLUE data found that employment in the CBD is up 20 per cent since 2005, increasing from 182,000 to 219,000 CBD-based employees.
The top three CBD employing industries were business services (more than 49,000 employees), finance and insurance (more than 35,000 employees) and public administration and safety (more than 25,000 employees).
Given the increasing number of employees, it makes sense that the biggest use of CBD space is offices, occupying more than 3 million sqm.
This was followed by residential, which uses more than 1.2 million sqm of CBD space and commercial car parks, which use more than 74,000 sqm.
The most recent CLUE data found that some 309,600 sqm of CBD space was currently under construction.
Across the Melbourne municipality generally, the data reveals there were 29,000 new dwellings and 8 million sqm of floor space added in the last 10 years.
The CLUE data found that the municipality’s economy is now worth 44 per cent more than it was in 2005, valued at $90.6 billion.
The number of jobs across the Melbourne municipality has also increased by 33 per cent in the past decade, with 450, 336 local jobs.
Lord Mayor Robert Doyle said the latest data reinforced anecdotal evidence and reports from other agencies and businesses that the city’s economy was booming.
“We are growing in a smart and sustainable way with our largest industries being professional services, finance, insurance and technology, clean-tech and biotech – paving the way for an innovative knowledge economy,” Cr Doyle said.
“Great cities provide great opportunities for their people.”
“This report also highlights that cities continue to be the economic engine rooms of our nation. Melbourne now represents a third of Victoria’s total economic activity,” Cr Doyle said.