The Victorian Greens are calling on the state government to enter the property development game, saying Labor’s plan to get more millennials into the housing market will not work without such an intervention. In response to a series of housing announcements made last week by the premier, Jacinta Allan, the minor party is calling on the government to set up a “public builder” to construct affordable homes.
Under the Green’s plan, a state-owned developer would build 200,000 homes over the next 20 years and sell half for just 5% above the cost of construction. The remainder would be rented out for a maximum of 25% of household income. Distinct from public housing, the homes would be available for the wider public to buy or rent, though the party wants households on the social housing waitlist to be prioritised for rentals.