The Victorian Government is making sure more Victorians have the security and stability of a home, with our state’s – and Australia’s – biggest ever investment in public and community housing.
The Victorian Budget 2020/21 will deliver a historic $5.3 billion Big Housing Build to build more than 12,000 new homes throughout metro and regional Victoria, as well as supporting around 10,000 jobs, per year over the next four years, to supercharge Victoria’s economic recovery through the pandemic and beyond.
This package will boost our state’s social housing supply by 10 per cent in just four years – providing a stable foundation for thousands of Victorians to build their lives.
Warrnambool has been identified as one of 21 priority areas across Victoria, with expressions of interest now being sought from the housing and building sectors.
The investment will deliver 9,300 new social housing homes across the state – including replacing 1,100 old public housing units. This investment will help Aboriginal Victorians, pensioners, Victorians with disability, family violence victims and single parent families find their feet.
Of these new homes, 2,000 will be for Victorians living with mental illness, reflecting our commitment to mental health and fixing a broken system.
A further 2,900 new affordable and low-cost homes will be built to help low-to-moderate income earners live closer to where they work and provide options for private rental.
The program will deliver secure, modern, and affordable homes throughout Victoria – with 25 per cent of funding to be allocated to regional Victoria – including a minimum of $25 million for Warrnambool.
The new homes will meet 7-star energy efficiency standards, making them more comfortable during summer and winter, and saving tenants on their power bills.
The unprecedented investment will boost Victoria’s economic recovery, generating an estimated $6.7 billion in economic activity and supporting a peak of more than 18,000 jobs – with 10 per cent of the work on major projects to be done by apprentices, cadets and trainees.
Hundreds of new jobs will be created for women, Aboriginal Victorians, people with disability, social housing tenants and people from diverse backgrounds through social procurement targets.
Combined with new housing from existing investments such as the Public Housing Renewal Program and Social Housing Growth Fund, construction of more than 15,800 new homes will begin over the next four years.
Quotes attributable Member for Western Victoria, Gayle Tierney
“This profound investment will make the world of difference to people in our community who
need the stability and safety to get ahead and thrive.”
“Everyone deserves a safe and secure place to call home – this record funding will deliver exactly that.”
Quotes attributable to the Minister for Housing Richard Wynne
“This unprecedented housing blitz will deliver new homes and jobs across Melbourne and regional Victoria.”
“We’re delivering the biggest investment in social housing Victoria has ever seen – we’re not just investing in bricks and mortar, but the lives of Victorians for decades to come.”