Add CategoryThe Andrews Labor government is rolling out changes to boost land supply and cut delays in approvals to make housing more affordable in Victoria. This initiative includes the rezoning of 100,000 lots within two years in key growth corridors spread across seven of Melbourne’s growth councils. This massive rezoning will be done with the aim of tackling housing affordability head on.
The planning of these 17 new suburbs will include the services, infrastructure, and amenities that are the cornerstone of any functional community, states an official release from the Premier of Victoria.
The state’s Streamlining for Growth program is also being extended for another three years, with the aim of helping councils streamline their 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,” said the official release.
The new project will help build up a four-month stock of lots for sale in growth corridors, which in turn will create a more competitive market and ensure that Victoria retains its strong land supply. “Melbourne land prices remain around half that in Sydney, and this Government intends to hold on to that competitive edge.”
The government also commenced a pilot program to deliver 100 new social housing dwellings on government land as part of its developments in established suburbs.
“By increasing supply of lots with good access to the jobs, schools, hospitals and public transport all Victorians need, we’re helping make housing more affordable,” said Treasurer Tim Pallas. “This increase in supply is also a boost to the construction industry, creating jobs in the growth corridors, as well as in established suburbs.”
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