ABS data published today has exposed the dire state of housing completions in Victoria:
- Private dwelling completions are down 26 per cent annually, with new houses falling 21.8 per cent year-on-year.
- The value of non-residential construction is down 15.5 per cent, and private non-residential work down 24.8 per cent.
- The value of work commenced on new houses is down 11.1 per cent annually in real terms.
For the last two years, Victoria has averaged a shortfall of 22,442 homes every quarter because population growth has outpaced new home completions.
For every 10 people added to Victoria's population between June 2023 and March 2025, only about 3.9 new dwellings were completed.
Shadow Minister for Planning and Housing Richard Riordan said: "Labor has failed to build the houses in line with population growth and that has resulted in higher house prices and rents because of increased competition.
"Victorians are being locked out of the dream of home ownership because of Labor's failures.
"A Liberals and Nationals Government will address delays in approvals and introduce audits, timelines and accountability for authorities to boost housing supply.
"We will also scrap stamp duty for first-home buyers on all properties up to $1 million, established or off-the-plan, to restore the dream of home ownership for a new generation.
"We will clean up corruption in construction, tackle cost blowouts with a new watchdog, establish a new code of conduct and focus on eliminating waste and union misconduct."
