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Developing
1. Melbourne's population of 3,203,088, nearly 70% of Victoria’s population, grew by more than 218,000 people or 7.2% between the 1996 and 2001 censuses. More than half this population growth reflected residential developments in the outer and fringe suburbs such as Caroline Springs in the west, Roxburgh Park in the north and Narre Warren South in the south-east. (Source: www.abs.gov.au)
2. Victoria's economy grew 18 percent in the past five years, faster than the Organisation for Economic Cooperation and Performance (OECD) average. Growth was particularly strong in the finance sector (including banking and funds management), construction activity (including dwellings and infrastructure development), retail trade, health services, business services and education. (Source: www.business.vic.gov.au) Victoria's Gross Domestic Product (GDP) per capita is above the national average. Employment rose 12 percent, or 260,000 jobs, in the past five years reducing the unemployment rate to around five percent. (Source: www.business.vic.gov.au)
3. Redevelopment in Melbourne’s city centre and inner suburbs such as Docklands and Southbank have contributed to an increase in population in these areas, and reversed the population decline in the inner city areas. Population growth in the local government areas of Melbourne and Port Phillip represented 12% of Melbourne's overall growth between 1996 and 2001. As with all capital cities in Australia part of this inner city growth is associated with an increase in medium or high density housing. (Source: www.abs.gov.au)
4. Melbourne’s port is the best performing sea freight logistics chain in Australia. In another record year for the Port of Melbourne, total trade for the 2003/04 financial year increased by 8.8% to 59.9 million revenue tonnes, equivalent to 26.7 million mass tones. Trade growth was driven by high consumer confidence and a strong Australian dollar resulting in buoyant retail sales boosted by household spending, non-residential construction activity, an improving agricultural sector, and continuing low interest rates. All trade sectors achieved positive growth with:
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