May 2005

Funds to tackle housing shortage

Victoria’s stock of affordable housing has received a major boost with the announcement by Housing Minister Candy Broad of a $30 million funding package for construction of new properties.

Ms Broad said $20 million would be allocated as a Melbourne 2030 Housing Boost, resulting in 100 houses and units in strategic locations across Melbourne.

All the new homes will be located in or next to activity centres, growth areas and transit cities identified in Melbourne 2030, the Government’s blueprint to protect Melbourne’s liveability over the next 25 years.

A $10 million housing injection through a Housing for Regional Victoria initiative will deliver 54 houses and units for people on low incomes in Ballarat, Mildura, Bendigo, Shepparton, Gippsland and other key regional centres.

‘We know there is a shortage of affordable housing in Victoria and many families are finding it increasingly difficult to get a home of their own in the current market.

‘The Government believes everyone deserves a decent home and the Melbourne 2030 Housing Boost and the Housing for Regional Victoria initiative will provide a large number of high quality homes to families on low incomes,’ Ms Broad said.

The new homes will become available for rental from later this year and will target people on low incomes who meet public housing eligibility criteria.

Other initiatives to address housing affordability include the $5,000 First Home Bonus Scheme for new home buyers, establishing not-for-profit community-based Housing Associations and the new Building More Homes Together initiative where builders and developers construct social housing in return for development opportunities on public housing sites.