Melbourne Quarter - Urbis CBD Market Outlook Report June 2021

THE UNIVERISTY OF MELBOURNE POPULATION GROWTH Melbourne CBD WHO LIVES IN MELBOURNE CBD? Source: ABS, Urbis Aged 15-39 Lives in Apartment Renting White Collar Worker Overseas Born University Student Melbourne CBD City of Melbourne LIVEABILITY The City of Melbourne has undergone significant land use change over the past decade, with demand for residential dwellings increasing as people look to move into Melbourne's CBD. When compared to Sydney's CBD which is predominately a commercial landscape, Melbourne's CBD is becoming a place to live, work and enjoy the range of local and walkable amenity, world class restaurants, bars and entertainment venues. Melbourne CBD is anticipated to see an additional 14,000 new dwellings by 2031, supporting its growing population. POPULATION Victoria is anticipated to see steady growth in population, despite the effects of the Covid-19 global pandemic. Melbourne CBD's population is forecast to increase 2.3% annually between 2021 and 2031. This is greater than the rest of Melbourne; 1.8% over the same period. EDUCATION Melbourne CBD is home to world class universities, including RMIT University, Victoria University Flinders Campus and Australia’s number one ranked university – The University of Melbourne. In 2020, international students made up 41% of total enrolments at The University of Melbourne from across 155 different nationalities, supporting international demand from overseas students. These major universities located in Melbourne's CBD also attract local and domestic students from interstate, seeking a world class tertiary education and improved chances of graduate employability. MELBOURNE'S RESILIENCE Melbourne's internationally praised response to the Covid-19 global pandemic and second wave in 2020 has further enhanced its appeal to new residents as a liveable and safe city. Ranked in the top 10 for safest major cities around the world (EIU, 2019) , its residents are supported by strong leadership and committed infrastructure investment to ensure a positive post pandemic outlook. 83 % 37 % 100 % 15 % 74 % 29 % 80 % 73 % 83 % 36 % 34 % 8 % DWELLINGS Melbourne CBD vs Sydney CBD 7,700 10,800 34,000 48,000 2021 2031 Sydney CBD Melbourne CBD 2021 2031 # 1 in Australia # 31 in the world # 7 in graduate employability worldwide Source: Times Higher Education World University Ranking 2021/QS Graduate Employability 2020 +14,000 dwellings +3,100 dwellings Source: Forcast. id, City of Melbourne Source: VIF 2019, Urbis 62,800 78,600 +25% increase 2021 2031 +15,800 new residents 41% International students Prepared exclusively for Lendlease 3