Melbourne South East Growth Corridor: 298 Estates [Aug 2021]

The Melbourne South East Growth Corridor is one of the 4 Growth Corridor Plans in metropolitan Melbourne defined by Victoria Planning Authority. It sits 48 km south-east from Melbourne's CBD, governed by Casey City Council and Cardinia Shire Council. The key growth town-centres are Cranbourne, Berwick, Clyde, Clyde North, Pakenham and Officer.

A new suburb has also been planned as Pakenham East covering an area of 630 hectares. More details can be found here https://vpa.vic.gov.au/project/pakenham-east-psp/.

Transportation in Melbourne South East

In terms of transportation, Melbourne South East Growth Corridor is connected through Cranbourne railway line and Pakenham railway line. Cranbourne railway was also proposed to extend into Clyde with 2 additional train stations². The major freeways in the area are Eastlink, Princes Freeways, West Port Highway, Thompsons Road and Mornington Peninsula Freeway.

Employment in Melbourne South East

Job opportunity in the South East Growth Corridor has featured its own Dandenong activity centre and as well as a short commute away from Monash NEIC (National Employment and Innovation Cluster), which features high-profile organisations such as Monash University, CSIRO, Monash Medical Centre, Dandenong Hospital.

Buyer Benefits in Melbourne South East

As Casey City Council, Cardinia Shire Council, Frankston City Council and the City of Greater Dandenong are categorised as a non-regional area city council, $10,000 FHOG (First Home Owners Grant)³ may be applicable for buying or building a new home at $750,000 or less, alongside the existing stamp duty concessions for first home buyers. To work out the exact cost for your transaction, please contact your local conveyancer.

The $15,000 HomeBuilder Grant from the Federal Government package may also apply if you enter the building contract by the 31st of Mar 2021 and intended to live in. More details can be found on the Treasury website https://treasury.gov.au/coronavirus/homebuilder.

References:

1. Growth Corridor Plans by Victoria Planning Authority
2. Matthew Guy pledges nearly $500m to extend Cranbourne train line
3. FHOG in State Revenue Office Victoria