Colin Biggers & Paisley hosted their annual Melbourne Property Think Tank this week, bringing together more than 200 senior leaders from across Victoria’s property, development and construction sectors. The event covered the critical forces shaping the state’s property market, from planning reform and housing supply to investment trends and the rising importance of ESG in development strategy.

The evening featured opening remarks to set the scene by Rhett Oliver, Partner at Colin Biggers & Paisley (and founder of the Property Think Tank series), followed by a keynote address by Richard Riordan MP, Shadow Minister for Planning and Housing. A dynamic panel discussion was then moderated by David Passarella, Partner at Colin Biggers & Paisley.

As the most highly attended forum in the national series to date, Melbourne’s Property Think Tank underscores the industry’s appetite for clarity, collaboration and actionable insights amid evolving policy settings, economic pressures and community expectations.

In a keynote address, Richard Riordan MP delivered a stark assessment of Victoria’s housing market, warning of stalled development, declining investment and a planning system hampered by bureaucracy. He argued that the current government’s ideological approach - marked by excessive regulation, politicised planning and burdensome taxation - has eroded investor confidence and affordability.

As an alternative, Richard Riordan outlined a reform agenda centred on a streamlined planning system, with statutory timeframes, deregulation to empower developers and a renewed focus on affordability. He emphasised the need for a single point of decision-making in government and pledged to reduce planning delays while unlocking stalled projects. He also advocated for targeted tax reform, including the removal of the fire services levy and increased support for first-home buyers.

Richard Riordan’s message was clear: Victoria must shift from a government-knows-best model to one that trusts industry expertise and prioritises housing delivery.

Guest panellists included Linda Allison (CEO, UDIA Victoria), Jamie Govenlock (Partner, Urbis) and Mark Wizel (Managing Director and CEO, Wizel Property Group). Together, they explored three key themes: planning reform, development costs and asset class viability.

1. Planning reform

The panel agreed that Victoria’s planning system is in urgent need of reform. Linda Allison highlighted the ambitious targets of the Victorian Housing Statement and the lack of tax reform to support investment. She urged for a more nuanced approach to infill and Greenfield development, emphasising the need to align planning with consumer preferences. Jamie Govenlock critiqued the Development Facilitation Program, describing it as a well-intentioned but cumbersome process. He advocated for clearer ministerial direction and a separate authority to manage activity centres. Mark Wizel added that planning permits alone won’t solve the crisis — projects must be financially viable and the market must be confident.

2. Development costs and taxation

The panel also examined the heavy tax burden facing Victoria’s property sector, citing land tax, stamp duty and the windfall gains tax among key deterrents. Mark Wizel argued that sentiment in Victoria is at an all-time low, with foreign capital deterred by high taxes and social concerns. He stressed the need to restore investor confidence and level the playing field with other states.

Linda Allison called for targeted tax relief, such as adjustments to the Foreign Purchaser Additional Duty (FPAD) and windfall gains tax. She emphasised that stimulating apartment supply could generate significant revenue for the government.

3. Market viability and asset classes

Regarding the viability of different asset classes, Mark Wizel noted that while high-end housing remains strong, the middle and lower ends of the market are struggling. He highlighted the challenges in commercial property, particularly office space affected by work-from-home trends, and praised retail as a robust and opportunity-rich sector. The panel also discussed the potential of land lease communities and build-to-rent developments.

The evening concluded with a call to action. Panellists urged the industry to remain optimistic, collaborative and solutions-focused. Linda Allison encouraged attendees to engage with their industry associations, while Richard Riordan challenged the sector to demand better performance from government and make housing a central issue in the next election.

The series provides a unique platform where government, private sector and advisory voices converge to test ideas, share intelligence and shape actionable responses. In a climate defined by affordability pressures, regulatory reform and changing investor confidence, this exchange of perspectives is essential to guiding the sector’s future.

Following successful events in Sydney and Brisbane earlier this year, the series continues on the Gold Coast on 30 October 2025, with a focus on coastal development and infrastructure investment.

View the highlights from our Melbourne event below.

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