Growing cities today are growing at a rapid pace, driven by increasing population growth. As populations increase, cities can grow by building taller buildings, or expand by taking up more land. Planners are beginning to worry that there is too much “out” and not enough “up,” a phenomenon known as Urban Sprawl. Urban sprawl has been facilitated in the modern era by the invention and widespread acceptance of the motor vehicle, meaning that development is possible almost everywhere, and sprawl is commonplace in many modern cities (Newman & Kenworthy, 1999). Reasons for widespread urban development include developers taking advantage of cheaper land further from the city knowing that people will sacrifice travel time, due to the relatively low cost of travel, to purchase affordable land. (Danielson and Lang, 1998). Likewise, green suburbs with large homes on large lots and abundant public spaces are very attractive to consumers; the problem, however, is that low-density housing has many consequences. These include the replacement of public transport provision which further encourages car dependency; reduced accessibility to employment and facilities for the poor, increased congestion, pollution and travel times, and reduced safety (World Bank, 2002). The alternative, high-density development, has a much lower per capita impact on the environment, but lacks some of the desirable community aspects of low-density development (Danielson & Lang, 1998). The two alternatives facing planners are to allow further expansion of the urban fringes of cities or to redevelop existing suburbs to contain a population increase (O'Sullivan, 2012). Melbourne is a prime example of a city facing such an urban conundrum, with a population projected to increase by 1 million... according to the paper... meaning that UGB and other means of urban containment lead to an increase in land prices limiting the supply of building land. However, empirical evidence on the effects of UGB on property prices remains disjointed and fragile, indicating that land supply constraints and higher land prices do not necessarily translate into higher property prices (June 2006). Furthermore, most studies focus on Portland in the United States. , and those conducted outside the United States focus on Green Belts rather than UGB Belts (Mathur, 2013). With the increasing adoption of global growth management strategies around the world, it is time to focus on an area outside of Portland, and the United States in particular, and analyze the effect of UGB on home prices and of land in Melbourne. Analyzing the impact of distance from the UGB, both inside and outside the UGB, also provides an area for further study.