The state government recently announced $16.4 million to accelerate the planning and approval processes for new affordable housing in Victoria. The investment will extend the Streamlining for Growth program for three more years, to reduce red tape and encourage housing development in key areas.

The Streamlining for Growth program is funded by the Victorian State Government and managed by the Victorian Planning Authority (VPA). It aims to provide support and capacity building for councils in regional Victoria and metropolitan Melbourne. Through the provision of targeted funding and staff resources, the program assists by unblocking delays in the strategic planning system and speeding up the delivery of projects that provide employment growth and/or increased housing choice, diversity and affordability.

The program has already made significant progress with 70 projects in 39 municipalities benefitting from reduced red tape which had delayed subdivision approvals from councils and utilities. The goal is to keep a four-month stock of lots for sale to create a more competitive market. A recent surge in sales has left the market under-supplied.

The program will include a major focus on strategic sites in established suburbs.

The Treasurer confirmed that the Victorian Planning Authority’s forward program will ensure a strong pipeline of zoned land capable of meeting 15 years supply in Melbourne’s growth corridors.

Master Builders looks forward to the Victorian Government’s announcement of their landmark housing strategy, to be released in coming weeks. The strategy is expected to include a raft of initiatives to renew and expand public housing, to ensure a more stable and fair rental market, and to provide more affordable housing in Melbourne’s middle and inner suburbs.

For more information on streamlining for growth program: https://vpa.vic.gov.au/streamlining-for-growth-program/