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$1 billion housing investment ‘cautiously’ welcomed

By Contributed

Jul 26, 2023

Funded: Master Builders Victoria have welcomed investment in regional housing. Photo by Rodney Braithwaite

A new $1 billion Regional Housing Fund forecast to deliver more than 1300 new homes across the state’s regions has been cautiously welcomed by Master Builders Victoria.

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Chief Executive Officer Michaela Lihou said the fund could be the beacon the regional building and construction industry needed but she urged the Victorian Government to continue to explore mechanisms to strengthen the sector amid ongoing pressures and insolvencies.

“The Regional Housing Fund could be the leg up the local industry needs,” Ms Lihou said.

“But it’s no quick fix. As skill and labour shortages continue to plague the industry, it is vital the state government and industry continue to work together to ensure builders... have the capacity to get the job done.”

Premier Daniel Andrews recently announced that the Regional Housing Fund would offer a mix of social and affordable housing.

Ms Lihou said it offered a pipeline of work and hope for those impacted by the social and affordable housing crisis.

“With immigration now back to pre-pandemic levels, it is a step towards easing the social and affordable housing crisis,” Ms Lihou said.

“But more work will be needed to help ensure builders can continue to provide homes for all Victorians.

“The promise to push ahead with planned infrastructure projects despite the cancellation of the 2026 Commonwealth Games also offered the industry security for the future.”

Under the renewed blueprint, new and upgraded sporting infrastructure projects planned as part of the Games will still be completed.

“The commitment to stick to the plan is an important one,” Ms Lihou said.

The provision of new and upgraded venues... offers important opportunities for the local building and construction sector.”