Affordability Partnership To Build 800,000 Victorian Homes

A bold target to build 800,000 new homes, 152,000 of those regionally, has been detailed in Victoria’s Housing Statement.

Released on Wednesday, the Victorian Government’s package to roll out from 2024 to 2034 will deliver the new homes through an Affordability Partnership with the housing industry.

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The partnership was signed alongsidehe Property Council of Australia, Master Builders Victoria, the Urban Development Institute of Australia, the Housing Industry Association and Super Housing Partnerships.

As part of the partnership, the state government said the partnership “will foster the conditions needed to stimulate investment and build high-quality homes faster in the places where Victorians want to live – and the industry will build more housing for the Victorians who need it most”.

“This Housing Statement forms the first step of our work with industry to build the homes Victorians need for the decades ahead – not the last – and we’ll keep working with the sector and local communities alike to get on with it,” Treasurer Tim Pallas said.

Victoria is the fastest growing state in Australia, with its population set to hit 10.3 million by 2051.

The state government said to ease the housing pressure off Victorians, 2.24 million homes needed to be built by 2051 – about 80,000 a year.

The work promised as part of the housing statement will also create 16,000 jobs across Victoria.

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