Victoria

100,000 lots across 17 new suburbs to be rezoned by Victorian Government within two years

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THE Victorian Government last week said it is taking action to boost land supply and cut delays in approvals to make housing more affordable for Victorians, with 100,000 lots to be rezoned within two years in Melbourne's key growth corridors.

Precinct structure plans will include details of services, infrastructure and amenities for the new suburbs, which include Pakenham East, Minta Farm and McPherson in Melbourne's south east, Wollert, Donnybrook and Beveridge Central in Melbourne's north, and Plumpton, Kororoit, Mt Atkinson and Tarneit Plains in Melbourne's west.

Map of new land release areas by the end of 2018

The Streamlining for Growth program is also being extended another three years, which helps councils streamline subdivision processes, unlock sites and speed up applications for residential and employment land.

In a joint statement, Treasurer Tim Pallas and Planning Minister Richard Wynne said the program will ensure planning projects can progress without hold ups.

"Some 37 projects have already begun tackling the red tape that once delayed subdivision approvals from councils and utilities –saving time and money for both developers and buyers," they said.

"This will help build up a four-month stock of lots for sale in growth corridors to create a more competitive market, and ensure Victoria retains its strong land supply that underpins our affordability edge. Melbourne land prices remain around half that in Sydney, and this Government intends to hold on to that competitive edge."

The State Government will also commence a pilot program to deliver 100 new social housing dwellings on government land as part of developments in established suburbs. This pilot is part of a program so private developers can innovate to provide inclusionary housing in new developments.

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