The central business district (CBD) is Melbourne's business and financial centre. It encompasses the area from Flinders Street to Queen Victoria Market and from Spencer Street to Spring Street, plus the area between Victoria and Latrobe streets. The CBD is home to retail, financial, legal, administrative, recreational, tourist and entertainment facilities and operates 24 hours a day, serving a wide variety of residents, workers and visitors.
The over-supply of office space in the CBD during the 1990s coupled with the City of Melbourne's Postcode 3000 initiative has led to a resurgence in inner-city living. The CBD's population is currently one of the fastest growing small areas in Australia.