In a bid to boost confidence in Victoria’s construction industry, Planning Minister Matthew Guy has announced a 50,000 lot land supply target for Melbourne in 2014.

“It is vital for the Victorian economy that our supply of land for housing growth is strong,” Mr Guy said.

“The Victorian Coalition Government is committed to growing our building industry, which is a key economic driver. Every million dollars spent on housing construction creates seven full-time jobs in the building sector, with further flow-on jobs.”

In both our most recent State Budget and Plan Melbourne submissions, Master Builders called for the State Government to ensure sufficient land supply is available, appropriately zoned, assessed and suitable for long-term new housing needs in Victoria.

“Land supply remains a key issue driving housing affordability in Victoria,” Master Builders CEO Radley de Silva said.

“It is vital that the State Government ensure land supply keeps up with a demand to help ensure Victorians can achieve the great Australian dream of owning their own home.”

The 50,000 lot land supply target will be delivered by the Metropolitan Planning Authority, and applies to land in Melbourne’s western, northern and south-eastern growth corridors. 

All of the 50,000 lots will be within Melbourne’s urban growth boundary, and no changes to the boundary are being proposed. 

Development Contributions Plans will apply to each structure plan, which will provide for extensive open space, community facilities and local infrastructure. 

More than 500 hectares of employment land will also be included within the structure plans. Geelong will also be a key focus of land supply actions in 2014.

The Metropolitan Planning Authority has recently invited public comment on Precinct Structure Plans for 21,000 housing lots in Melbourne’s southeast growth corridor.