Table of contents
 - featured image
By Joseph Ballota

Victoria’s Bold Housing Plan: 2.5 Million New Homes by 2051

Victoria is set to undergo a housing revolution with an ambitious plan to add 2.5 million new homes by the middle of the century.

Premier Jacinta Allan unveiled proposed housing targets for all local government areas across the state to meet by 2051.

This comprehensive plan aims to accommodate the state's rapidly growing population and address long-standing issues of housing affordability and availability.


A Vision for Massive Growth

Under this draft plan, two million homes will be built in metropolitan Melbourne, with nearly 500,000 more spread across regional areas.

The City of Greater Geelong will shoulder the highest target, with 139,800 new dwellings.

This significant increase is expected to support the city's expansion and economic growth.

Ballarat and Greater Bendigo will also see substantial increases, with 46,900 and 37,500 new homes respectively.

Melbourne's City of Melbourne will host an extra 134,000 homes, reflecting its central role in the state’s economy and infrastructure.

The "well-connected" area of Boroondara, which includes suburbs such as Balwyn, Camberwell, and Hawthorn, will add another 67,000 homes, enhancing its appeal as a prime residential area.

Expanding the Suburbs

The outer ring areas are also set to see substantial growth, aiming to alleviate pressure on Melbourne's inner suburbs and provide more affordable housing options:

  • Melton City Council: 132,000 new homes
  • Wyndham City Council: 120,000 new homes
  • Casey City Council: 104,000 new homes
  • Hume City Council: 98,000 new homes
  • Whittlesea City Council: 87,000 new homes

These areas have been identified by the Victorian government based on their potential for future growth and their current infrastructure capacities.

The idea is that targeted expansion should ensure that the growth is distributed evenly, allowing for better resource management and community development.


Meeting Population Demands

Victoria has the largest annual population growth of all Australian states, necessitating more than two million additional homes by the 2050s.

"There are parts of our city that have been locked up for too long," Ms. Allan stated, emphasizing the need for long-term planning and development.

This growth strategy is designed to ensure that Victoria remains livable, affordable, and sustainable as its population increases.

Opposition Criticism

However, not everyone is on board with the plan.

Opposition Leader John Pesutto criticized the projections, arguing they would "tax the life out of investment in residential construction."

He expressed doubts about the feasibility of these targets without substantial infrastructure investment, claiming the government had never met its targets before.

"The Allan Labor government is imposing these targets without any consultation and with no money for infrastructure to back it up," Pesutto argued.

Infrastructure and Support

Addressing concerns about infrastructure, the premier assured that the government would support growth corridors by funding schools, hospitals, and roads to keep pace with demand.

Infrastructure development is critical to the success of this housing plan, ensuring that new communities are well-serviced and connected.

This includes not only physical infrastructure but also social infrastructure such as schools and healthcare facilities.

Regional Au

Boosting Regional Economies

Regional and rural areas will also benefit from the housing plan.

Allan hopes this will bolster regional economies and address worker accommodation shortages.

"We know we need to support young families to afford homes in our regional centres," she said.

"For regional businesses, being able to find homes for their workers is an economic constraint."

Greater Geelong will see the largest number of new homes in the proposal, with 139,800 additional dwellings by 2051, more than doubling its current stock.

This will not only provide housing but also create jobs and stimulate local economies.

Current Progress and Future Plans

Victoria's metropolitan planning strategy, released in 2017, set a target for 70% of new homes to be built in established suburbs by 2051, with the remaining 30% in greenfield areas.

Since 2014, 56% of new homes delivered in Victoria have been in established areas, indicating a shift towards more sustainable urban growth patterns.

In one of his final acts as premier, Daniel Andrews set a target to build 800,000 homes across Victoria over the next decade, aligning with the government's housing statement from September.

This aggressive target underscores the urgency and scale of the housing challenge facing Victoria.

According to the latest Australian Bureau of Statistics data, 11,071 homes were approved for construction in Victoria in the first three months of 2024, putting the state on track to approve fewer than 45,000 this year.

This clearly highlights the need for accelerated efforts to meet the ambitious housing targets set by the government.

Don't chase these new potential growth areas.

The figures are not yet finalized, but they serve as a guide while the government consults with local councils.

The aim is to finalize the targets in the coming months.

The final council housing targets will be released by the end of 2024, following local government consultations.

This collaborative approach aims to ensure that the targets are realistic and achievable, with input from all stakeholders.

By working together, the Victorian government hopes to create a housing strategy that will support the state’s growth and prosperity well into the future.

About Joseph Ballota Joseph is a Property Coach who put hundreds of people on the road towards wiping away their mortgage in under 5 years through expert Property Investment Plans.

not going to happen except labor will fill the country up with unneeded immigrants with nowhere to go just destroy the country for their vots

1 reply


Copyright © 2024 Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts