Victoria State Budget Holds Promise for Affordable Housing Solutions and Streamlined Development Approvals
Whilst there were some valuable new initiatives to come out of last week’s Federal Budget – in particular the focus on boosting the Build-to-Rent sector – there were some missed opportunities surrounding affordable housing supply and development within our cities.
Specifically In Victoria, we now look toward the State Budget on May 23 and anticipate the ways it could unleash the full potential of the property industry.
Rothelowman Managing Principal, Nigel Hobart shares, “The Property Council of Victoria has revealed its pre-budget submission, which indicates a movement geared toward the bolstering of housing supply and the increase of housing choice in the state. Also of interest, is the proposal to streamline development approval processes, making it easier for local councils.
We firmly agree with the PCA that with additional support from the state government, more Victorians will be able to enter the property market.”
As more people grapple with cost-of-living pressures, it is vital that we harness these opportunities to supply housing of all types to Victorians.
Image Credit: Gabriel Saunders
Brickworks by Frasers Property Australia.
