In March 2001, Heritage Victoria reviewed studies on the effect of heritage listings on property values.
It concluded, 'Generally speaking, heritage controls do not affect property values for residential buildings, particularly buildings in precincts'.
View Heritage Listing and Property Valuations in Victoria - March 2001(PDF, 71KB)
The Heritage Overlay doesn't prevent using sustainability measures in heritage places.
These can be accommodated, considering heritage impacts and other objectives.
Find out more at Department of Environment, Water, Land and Planning.
Areas of cultural heritage sensitivity
Land within 200 metres of the Yarra River and Gardiners Creek is an area of cultural heritage sensitivity.
This may need a Cultural Heritage Management Plan (CHMP), in line with the Aboriginal Heritage Act 2006.
The requirement of a CHMP only applies to:
- high impact activities (as defined by the Act), and
- to land not affected by significant ground disturbance.
Most privately-owned land and all developed land is not affected.