VICTORIAN Treasurer Tim Pallas has announced the State Government will extend its Streamlining for Growth Program for three more years to reduce red tape and encourage housing development in key areas by accelerating the planning and approval processes.
According to the Treasurer, 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 4 month stock of lots for sale to create a more competitive market, and the program will include a major focus on strategic sites in established suburbs.
Speaking at a housing industry forum last week, the Treasurer also 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.
Mr Pallas also called on the Australian Government to establish an Affordable Housing Corporation to provide low cost loans to community housing associations. Victoria is looking at a range of initiatives to strengthen this sector.
The Treasurer's announcements are part of the Victorian Government's landmark housing strategy, to be released in coming weeks, which will ensure more social housing and a better mix of affordable homes for Victorians.
The strategy will include a range 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.
More information about the Streamlining for Growth Program is available from the Victorian Planning Authority website at <https://vpa.vic.gov.au/streamlining-for-growth-program/>.