Victoria’s Big Housing Build will transform the social housing system by delivering the largest single increase and largest-ever investment in social and affordable housing in Victoria’s history. It’s an initiative that will change many lives for the better, now and into the future.
More than 9,300 new social housing properties
An increase of 10 percent in our total social housing supply. Construction starts this year, and continues until 2027, including the replacement of 1,100 outdated and ageing social housing dwellings.
2,900 affordable and market housing properties
Around 2,900 mainly affordable housing properties will also be developed to help low to moderate income Victorians live closer to their place of work and provide options for private rental.
What we're investing
$532 million - constructing new homes on public land
Homes Victoria land across Melbourne is the ideal asset to convert to social and affordable housing at a time when we need to build big and build quickly. Work has already commenced at 6 Homes Victoria sites, and they are now ready for regeneration.
$948 million - working with the private sector to spot-purchase homes, projects in progress or ready to build
To ensure we can add to our supply of social and affordable housing quickly, we’ll be working with developers and construction firms, to identify appropriate, existing housing developments we can acquire, provided they are up to a suitable standard and well located. This may also include working with the private sector to identify suitable developments that may be partially complete, or which may not otherwise progress.
$1.38 billion - funding for projects by the community housing sector
The community housing sector is uniquely placed to lend its expertise and experience to Victoria’s Big Housing Build. The Social Housing Growth Fund will invite proposals from community housing providers for new social and affordable housing developments to add to the available supply and help provide more homes for more Victorians.
$2.14 billion - funding for new opportunities with private sector and community housing partners
As the Big Housing Build rolls out, we want to maximise opportunities for the best value and best outcomes for Victoria. Homes Victoria will explore building on Victorian government land sites; as well as engaging with the market to identify new sites, new ideas, new opportunities and ways to build more homes. This will occur through the remainder of 2020 and into next year. We will pursue opportunities to partner with industry, community housing providers, local government and institutional investors to identify new projects that deliver homes across Victoria.
And in addition to the Big Housing Build
$498 million - new construction, upgrades and maintenance to existing housing
We’ve committed a record amount of money to maintain, refurbish, repair and build new public housing across Victoria. Work has already begun, and when we’re finished, more than 23,000 social housing dwellings will be significantly improved.
$185 million - replacing old public housing with new dwellings
The Public Housing Renewal Program is underway with the task of replacing 7 major public estates with completely new, modern, attractive and energy efficient dwellings. It will generate $1.29 billion in construction and economic activity.
Reviewed 06 January 2021