Victorians are being squeezed out of a home of their own, with rents soaring and new home building sinking to a decade low - and the Allan Labor Government's own taxes and red tape are making the crisis even worse.
Melbourne rents rose 3.5 per cent in the June quarter, the highest increase of any capital city in the nation.
At the same time, Victoria recorded just 54,842 new home completions in the year to March, the worst March result in a decade.
Government taxes, regulations, and charges now make up around 43 per cent of the cost of a new home in Victoria. Despite Labor's rhetoric, the building industry has ground to a standstill because the numbers simply don't stack up.
Property Council Victoria and Master Builders Victoria have both pointed to high taxes and policy uncertainty as key drivers. Master Builders Victoria has called for the abolition of several punitive taxes just to get construction moving again.
Victoria's Labor government set a target of 80,000 new homes a year under its 2023 Housing Statement.
Yet, we are nowhere near it. Just 60,000 homes were delivered in 2024, and this year's completions are tracking even lower.
Shadow Minister for Building and Housing, David Southwick, said, "Victorians are being priced out of a home of their own, and this government's own taxes are a big part of the problem."
"You cannot keep piling taxes and red tape onto builders and then act surprised when fewer homes get built and rents keep rising. The only way to build more homes and restore confidence is to lower taxes and charges, not add to them."
"Only a Wilson Liberal and Nationals Government will provide A Fresh Start by cutting taxes and regulations to restore confidence and build more homes across the state."
