Infrastructure drives value in real estate through generating business and consumer efficiencies. An understanding of the state
of play of infrastructure in cities is therefore critical to understand the direction and shape of future developments and related opportunity. While the national spend on public infrastructure is currently very concentrated in NSW, there is a healthy pipeline of infrastructure projects in Victoria; close to $40b in total, necessitated by Victoria’s current strong population growth (of over 2%, the highest across Australian states) and expectations that strong growth will continue, and on the current trajectory drive Melbourne to be the largest city in Australia by 2031.