Victoria records 30-year housing construction low as crisis deepens

Analysis by Nine Newspapers reveals just 1,500 homes for every one million Victorians commenced construction in the June quarter.

54,000 new dwellings were constructed in the last financial year – which is above the 46,000-home average set in 1990 – but well short of records set more than five years ago. Rising building costs and materials shortages are also slowing residential developments such as apartment buildings. The state government says it is on track to construct 80,000 homes annually to help ease the affordability crisis.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nine of our favourite Melbourne homes for sale right nowFrom a grand St Kilda West home, to a modern Brighton mansion, here are some of the best homes for sale in Melbourne right now.
Source: theage - 🏆 8. / 77 Read more »

Victoria is building homes at its lowest rate in 30 yearsThe state government wants to build 80,000 new homes a year. But Victoria is on track to build just 55,000 in the next year.
Source: theage - 🏆 8. / 77 Read more »