The Victorian Government is taking action to boost land supply and cut delays in approvals to make housing more affordable for Victorians.
The rezoning of 100,000 lots within two years in key growth corridors spread in seven of Melbourne’s growth councils will help tackle housing affordability head on.
The planning of these 17 new suburbs will include the services, infrastructure and amenity that are the very cornerstone of great communities.
While these plans roll out over the next two years, we’re slashing the time it takes for land to be shovel-ready.
The VPA’s Streamlining for Growth program is also being extended another three years, helping councils streamline subdivision processes, unlock sites and speed up applications for residential and employment land.
This will ensure planning projects can progress without hold ups. Some 37 projects have already begun tackling the red tape that once delayed subdivision approvals from councils and utilities –saving time and money for both developers and buyers.
This will help build up a four-month stock of lots for sale in growth corridors to create a more competitive market, and ensure Victoria retains its strong land supply that underpins our affordability edge. Melbourne land prices remain around half that in Sydney, and this Government intends to hold on to that competitive edge.
The Government is also releasing five government sites for a pilot program to deliver 100 new social housing dwellings as part of developments in established suburbs.
This pilot is part of a $26 million program to attract private developers to provide inclusionary housing in new developments.
The Labor Government is making record investments to give Victorian communities the resources and services they deserve, including $3.3 billion for the state’s public transport system and $1 billion in health infrastructure.