Intrapac chief executive Max Shifman says the high-rise apartments earmarked for Melbourne's activity centres may never be built, because rising costs push prices beyond first-home buyers' reach. Lenders require at least 50 per cent of apartments pre-sold. September maps for 25 train and tram zones propose 16-storey heights.
As I told the Herald Sun: “I've been warning about this since they first came up with the idea for activity centres, they're doing all of this to sell the idea that they're solving housing supply without actually solving housing supply”
I also said: “All of this stuff conspires to make the end price that you need to charge consumers significantly higher than what they're prepared to pay. And as long as that remains the case you're not going to see apartments happen at scale.”
Herald Sun, 29 September 2025 — Read the full article