The policy, which began in 1992 and ran throughout the 1990s, was aimed at increasing residential development in the Melbourne central business district and St Kilda Road.
At the time, these areas were primarily business districts and had low residential populations (only about 2,000 in the late 1980s, a decrease from about 5,500 in the 1960s).
[1][2][3] The policy provided incentives for people living in the central area and for property developers to create housing, such as discounted council rates and fees and a streamlined planning approval process.
[4] After implementation, the population of the inner-city area increased dramatically and 3000 new apartments were produced before the end of the decade.
Today, Postcode 3000 is generally considered to have been successful in increasing the number of central-city residents and revitalising the city centre.