Victoria gets $350m federal bonus for growing suburbs
Victoria got $350 million in federal funding. It exceeded housing construction targets. The money will build community infrastructure in growing suburbs and regional areas.
Victoria became the first state to qualify for a federal bonus under the National Housing Accord. It will get $350 million to spend on community infrastructure.
The money goes to growing suburbs and regional areas. Faster construction should deliver 287,000 new homes over five years by July 2029.
That is nearly 32,000 more than required. The bonus will improve services and quality of life in fast-growing areas.
The announcement comes with comments from former New York mayor Bill de Blasio. He says Melbourne needs about 25 per cent affordable housing that people must include in new developments.
Victoria now uses a system called inclusionary zoning. This requires 10 per cent affordable housing on some projects.
Or it allows a 3 per cent fee instead.
- $350 million
- Federal bonus amount
- 287,000
- New homes by July 2029
- 32,000 homes
- Above target by
- 25 per cent
- De Blasio's affordable housing target
Why it mattersFederal bonus programs give states reasons to build more housing. These programs also help improve local services. This helps address Australia's housing shortage.
AustraliaVictorians in growing suburbs and regional areas may see improved roads, schools, and community facilities as the state invests the $350 million bonus.
Corroborated bysmh.com.au·watoday.com.au
✓ Claims checked against the source and corrected before publish. checked 3 h ago
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