Infrastructure and Local Insights
Monash continues to thrive as a prized family destination, with investment in major road and rail infrastructure and a program of parks and recreation regeneration set to further boost market performance and liveability.
Substantial recent investment has cemented Monash’s reputation as Melbourne’s premier satellite city, including the $430 million redevelopment of The Glen shopping centre – Melbourne’s largest mixed-use development – the mega M-City project at Clayton and a $685 million expansion at Chadstone shopping centre.
Major transport projects will soon transform the way people live and commute in Monash, reducing congestion and enhancing connectivity across the region.
Monash’s efficient rail connections will be boosted with the government flagging underground stations at Clayton, Monash, Glen Waverley and Burwood as part of its $50 billion Suburban Rail Loop. This massive project will further support large-scale residential and commercial development and deliver critical connections to surrounding suburbs, the CBD and Melbourne Airport via an orbital link. The Federal Government has also committed $475 million to fund a rail project to connect Monash University’s Caulfield and Clayton campuses.
Stage 2 of the $1.37 billion Monash Freeway Upgrade project will deliver 36km of new lanes on the Monash and Princes freeways. When complete in 2022, it will drastically decrease travel times for the more than 180,000 commuters who use this freeway daily.
Monash maintains its enviable education credentials, with homes in zones for sought-after government schools including Glen Waverley Secondary College attracting price premiums. Brentwood Secondary College in Glen Waverley, Mount Waverley Secondary College, Wheelers Hill Secondary College, Highvale Secondary College and Wellington Secondary College have all recently completed significant upgrades, and Monash will get two new, state-of-the-art childcare hubs in Mount Waverley and Mulgrave.
Monash’s standing as a centre for health excellence will be strengthened by the $564 million Victorian Heart Hospital, which is due for completion at Monash University in 2022. Work is also underway on a $76.3 million overhaul at Monash Hospital emergency department, which will deliver a significant boost to employment opportunities in the Mount Waverley and Clayton areas.
Community sporting and recreational facilities will share $9.3 million in upgrades over the coming year. Design work is also underway for a $26.4 million, 18-court regional tennis centre and 3.4-hectare golf driving range in Glen Waverley.
The council’s proposed upgrade of Mount Waverley Village shopping centre will create a more attractive and vibrant hub for the local community, while the proposed Glen Waverley Civic Precinct Project will include a new library, civic hall, workspaces and public plaza.
This strong infrastructure and development investment continues to drive fresh interest and demand in Monash, ensuring the local property market is perfectly placed for continued growth.
© Jellis Craig 2021