The Victorian Government has announced $5.3 billion for social housing in the upcoming state budget. Targeting 12,000 new home builds in the next four years, including 9,300 social homes and 2,900 affordable homes.
This will create 10,000 jobs each year for the next for four years, with 10 per cent of those for apprentices.
“We’re excited to support our customers in winning and delivering these jobs for the community,” said Daniel Palumbo, Chief Operations Officer at Reece.
“Projects like this help support the most vulnerable in the community, while also igniting the construction sector, which will drive the country’s recovery post COVID.”
25% of funding will be allocated across regional areas, prioritising Ballarat, Bendigo and Geelong. In metropolitan areas, the first of the new sites will be in Richmond, Ashburton, Ascot Vale, Hawthorn, Flemington, and West Heidelberg. The new homes will be 7-star energy efficient.
The spend is expected to generate more than $6.7 billion in economic activity for the state recovering from an extended lockdown. Combined with the existing Public Housing Renewal Program and Social Housing Growth Fund, construction of more than 15,800 new homes will begin within the next four years.