Media Release Begins

The Urban Development Institute of Australia (Victoria) welcomed the release of the 10-Year Greenfield Plan by the Victorian Government as a positive step to securing a pipeline of supply for new homes in Melbourne’s growth suburbs.

UDIA Victoria CEO Linda Allison welcomed the Plan, noting that the Government had listened to industry’s concerns that the Greenfield Development Market needed a long-term pipeline of supply to meet future housing needs.

“The Housing Statement clearly states that 30 per cent of future housing will be located in growth area suburbs of Melbourne and regional Victoria. What was missing was a plan from Government to bring on new supply year on year. This plan is an important first step,” said Ms Allison.

According to the Housing Statement, approximately 24,000 (30 per cent) of the 80,000 annual target for new housing will be in greenfield areas. In metropolitan Melbourne, that number is 18,000 homes per year.

“In terms of affordability and choice, Greenfield markets currently offer the best value for home buyers, and the market can respond more quickly than infill and medium density builds, which take longer to construct.

“We know that many Victorians want to live in a new, detached home, and the newer communities of Melbourne and regional centres offer that choice at an affordable price.” said Ms Allison.

Ms Allison also noted the Government’s commitment to greater transparency and reporting against the Plan.

“Plans are good, delivery is better. We welcome the Government’s intention to track supply more closely, and to explore ways to streamline the Precinct Structure Plan approvals process. UDIA will provide market intelligence to ensure supply does not lag behind the targets. This will be critical when market conditions improve, and demand increases,” said Ms Allison.

UDIA Victoria also welcomes the new development concierge service to tackle applications that have experienced lengthy delays in the approvals process.

“Drainage connections, biodiversity, Cultural Heritage Management Plans, infrastructure approvals and other delays are a handbrake on affordability. There needs to be a coordinated response to resolving these complex issues that can hold up development for years,” said Ms Allison.

-ENDS-

Download the media release here.

MEDIA CONTACTS AND REQUESTS FOR INTERVIEW:
Linda Allison | CEO
ceo@udiavic.com.au