Liberals pledge 50,000 more regional lots

THE Liberals say their election commitment to create an extra 50,000 housing lots in regional Victoria within two years will make it easier for first home buyers to get into the market.

Announced last week, the pledge is part of a wider commitment to unlock a further 100,000 lots in metropolitan Melbourne and a “Long-Term Economic Plan” with no new taxes to deliver it.

The Liberals are citing data from the Real Estate Institute of Victoria that found house prices in regional Victoria have grown at the fastest rate in 20 years, with the median price increasing by $120,000.

As result, Opposition Leader Matt Guy said his government would also introduce a new planning flying squad to speed up and simplify the planning approvals process in regional Victoria.

Last week’s commitment follows the Liberals’ earlier pledge to remove stamp duty on first home purchases up to $1 million, which is estimated to save Victorian home buyers up to $55,000.

Mr Guy said the choice was clear at the election for those looking to own their own home.

“More and more people are moving to the regions, and we think that is a good thing.

“Daniel Andrews has made it clear that he wants you to rent forever – I disagree.

“As premier, I will deliver real solutions to boost land availability so more people can call regional Victoria home.”

Shadow Minster for Planning Ryan Smith said the Liberals and Nationals’ plan would ease the housing pressure in regional areas without introducing any new taxes.

“Lack of available land has all happened on Labor’s watch, and regional Victorians are seeing the consequences of this first hand.

“Only a Liberals and Nationals Government will make housing more affordable right across our state by unlocking more land, slashing red tape, and guaranteeing no new taxes.”