• Xotel

On Victoria’s huge housing investment

Investment in public and community housing is going to get bigger.

If there is one thing that we all realized during this pandemic, it’s that, there are so many things in our lives that we take for granted. The fact that we are alive, breathing, and with a place to live are enough to be thankful for. Having a home, in particular, is something to be grateful for because of how important it is, especially during the lockdown.

The pandemic caused such a huge disruption and even resulted in a spike in homelessness cases. Good thing that there was a quick and efficient response to this problem.

Victorians deserve a stable and secure home – and this is something Xotel has always believed. This is why the federal government promises the nation the biggest ever investment in public and community housing.

Read: How the announced federal budget will affect the property market in the future

According to the latest announcement by the Victorian government, the 2020/2021 budget will deliver a $5.3 billion Big Housing Build, which aims to construct more than 12,000 new homes throughout metro and regional Victoria. This will support about 10,000 jobs for the next four years and will help in the country’s economic recovery. This package will boost the state’s housing supply by 10 percent and is expected to deliver about 9,300 new social housing homes, which would also replace 1,100 old public housing units.

Aside from Victorians, specific groups of people will benefit from the new social housing homes that will be built such as Aboriginal Victorians, pensioners, those with a disability, family violence victims, and single-parent families. 2,000 of these homes will be allotted to Victorians living with mental illness, which should be taken even more seriously.

For low to moderate-income earners, 2,900 social housing homes will be built as a way to help in providing more affordable housing. This program is a form of commitment to provide stable, secure, and affordable homes throughout Victoria. At the same time, will create hundreds of more jobs for different members of society with this estimated $6.7 billion investment.

On top of this investment, a new government agency called Homes Victoria has been started. According to the media release, it was established “to work across government, industry and the social housing sector to deliver this record housing growth and to manage existing public housing.”

This investment and initiative is such a great opportunity to extend more help to those who need a better environment and a better place to live. It would also help people find a job that would provide for their daily needs. Minister for Housing, Richard Wynne adds, “This unprecedented housing blitz will deliver new homes and jobs across Melbourne and regional Victoria.”

“We’re delivering the biggest investment in social housing Victoria has ever seen – we’re not just investing in bricks and mortar, but the lives of Victorians for decades to come.”

For more information about safe and affordable housing, visit the website and the social media pages.

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