The city reaches southeast through Dandenong to the growth corridor of Pakenham towards West Gippsland , and southward through the Dandenong Creek valley, the Mornington Peninsula and the city of Frankston taking in the peaks of Olivers Hill , Mount Martha and Arthurs Seat , extending along the shores of Port Phillip as a single conurbation to reach the exclusive suburb of Portsea and Point Nepean. Foundation of Melbourne Melbourne Landing, ; watercolour by W. The central city filled up with shops and offices, workshops, and warehouses.
It extends northward through the undulating bushland valleys of the Yarra's tributaries— Moonee Ponds Creek toward Tullamarine Airport , Merri Creek , Darebin Creek and Plenty River —to the outer suburban growth corridors of Craigieburn and Whittlesea. August Main article: During the boom, Melbourne had reputedly become the richest city in the world,  and the largest after London in the British Empire. In the west, it extends along the Maribyrnong River and its tributaries north towards Sunbury and the foothills of the Macedon Ranges , and along the flat volcanic plain country towards Melton in the west, Werribee at the foothills of the You Yangs granite ridge south west of the CBD. From , the growth of the city extended into "green wedges" and beyond the city's urban growth boundary. Geography of Melbourne Map of Melbourne and Geelong urban areas Melbourne is in the southeastern part of mainland Australia, within the state of Victoria. In Melbourne acquired its first public monument—the Burke and Wills statue. It would be 30 years before another settlement was attempted. At the time of Australia's federation on 1 January , Melbourne became the seat of government of the federation. At this time, more new jobs were created in Melbourne than any other Australian city—almost as many as the next two fastest growing cities, Brisbane and Perth, combined,  and Melbourne's property market remained highly priced,  resulting in historically high property prices and widespread rent increases. The Bolte government sought to rapidly accelerate the modernisation of Melbourne. The Melbourne financial crisis was a contributing factor in the Australian economic depression of the s and the Australian banking crisis of The remainder of the party continued and arrived at the mouth of the Yarra River on 15 August Melbourne quickly became a major finance centre, home to several banks, the Royal Mint , and in Australia's first stock exchange. Suburban expansion then intensified, served by new indoor malls beginning with Chadstone Shopping Centre. Within months, the city's population had increased from 25, to 40, inhabitants. There has been substantial international investment in the city's industries and property market. The discovery of gold in Victoria in mid led to a gold rush , and Melbourne, which served as the major port and provided most services for the region, experienced rapid growth. Construction started on further major public buildings in the s and s, such as the Supreme Court , Government House , and the Queen Victoria Market. Many of the larger suburban mansions from the boom era were also either demolished or subdivided. Federal Coffee Palace , one of many grand hotels erected during the boom During a visit in English journalist George Augustus Henry Sala coined the phrase "Marvellous Melbourne", which stuck long into the twentieth century and is still used today by Melburnians. To counter the trend towards low-density suburban residential growth, the government began a series of controversial public housing projects in the inner city by the Housing Commission of Victoria , which resulted in demolition of many neighbourhoods and a proliferation of high-rise towers. Foundation of Melbourne Melbourne Landing, ; watercolour by W. In the city hosted the first Melbourne Cup race. In a telephone exchange was established and in the same year the foundations of St Paul's , were laid; in electric light was installed in the Eastern Market, and in the following year a generating station capable of supplying 2, incandescent lamps was in operation.
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