Big Housing Build – more than 1000 homes bought
The Victorian Government’s historic Big Housing Build is stimulating the Victorian economy, generating more than $1 billion in construction and development activity – creating 356 direct jobs and 1,246 indirect jobs.
More than 1,100 homes have already been purchased under the landmark $5.3 billion Big Housing Build program, including 590 homes in ready to build projects – many of which were struggling to make pre-sales and wouldn’t have gotten off the ground.
The Big Housing Build has also purchased 514 already built homes, to help get people into a home faster. Currently, 414 of the homes are tenanted or ready to be tenanted, with more coming as properties go through settlement.
Spread across metropolitan Melbourne and regional Victoria, the projects are in priority local government areas in highly accessible and well serviced locations – ranging from a three-bedroom townhouse in Ballarat to a one-bedroom apartment in the city.
The homes are being made available to those in the most need – including people living with mental illness or disability, people escaping family violence, Victoria’s First Peoples and individuals experiencing homelessness.
Through the Big Housing Build, the Government is spot-purchasing properties and buying new homes in construction projects that are either in progress or ready to build, securing 1,800 social and affordable housing properties – bolstering the construction industry and supporting jobs.
A minimum of 25 per cent of the homes will be in regional Victoria – ensuring the economic and social benefits of the program are felt in communities across the state.
The Government’s landmark $5.3 billion Big Housing Build – the largest single investment in social and affordable housing in Australia’s history – is delivering more than 12,000 new homes.
This historic investment will boost Victoria’s social housing supply by 10 per cent while creating an average of 10,000 jobs per year over the four year program. The Big Housing Build is investing $1.25 billion in regional areas.
In addition to the spot purchases and ready to build programs, Big Housing Build projects in Ascot Vale, Ashburton, Collingwood, Flemington, Hawthorn, Richmond, South Yarra, West Heidelberg and Ballarat will deliver more than 1,630 homes and create more than 6,450 jobs.