It is the host metropolis of annual Worldwide situations including the Australian Grand Prix, the Australian Open along with the Melbourne Cup, and it has also hosted the 1956 Summertime Olympics as well as the 2006 Commonwealth Game titles. Resulting from it ranking very in enjoyment, tourism and Activity,[19] in addition to instruction, health care, investigate and enhancement, the EIU now ranks it the next most liveable town in the world.[20]
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Recognized for its bars, Road artwork and occasional tradition, the internal town's community of laneways and arcades is a well-liked cultural attraction.
More recent office, industrial and community developments inside the adjoining districts of Southbank and Docklands have made these locations into extensions with the CBD in all but identify. A byproduct on the CBD's layout is its community of lanes and arcades, which include Block Arcade and Royal Arcade.[108][109]
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Presently, much more new Positions had been designed in Melbourne than another Australian city—Pretty much as numerous as the subsequent two swiftest developing metropolitan areas, Brisbane and Perth, put together,[67] and Melbourne's home market remained very priced,[68] resulting in Traditionally higher assets costs and widespread rent increases.[69]
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It won’t rot, be eaten by termites or melt away from the celebration of hearth, rendering it perfect for Australia’s bushfire inclined locations.
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To counter the development in direction of very low-density suburban residential advancement, the government began a number of controversial general public housing initiatives view it now within the internal metropolis via the Housing Commission of Victoria, which resulted in demolition of many neighbourhoods along with a proliferation of high-rise towers.[fifty nine] In afterwards years, Along with the speedy rise of motorized vehicle possession, the financial commitment in freeway and freeway developments drastically accelerated the outward suburban sprawl and declining interior town populace.
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