- The program is set to cost $5.3B over ten years
- The board will consist of eleven members
- Will build over 12,000 new homes
The Victorian Government has announced the members of the new board for Homes Victoria – the agency delivering the $5.3 billion Big Housing Build, which is the single biggest investment in Australian social and affordable housing ever.
The 11-member board will oversee the rollout of the ten-year housing strategy along with other initiatives and reforms relevant to secure and affordable housing.
Reports show that Victoria has the lowest portion of social housing in the nation. In its entirety, the program will build over 12,000 new homes, increasing social housing stock by 10%. Over a quarter of the funding – around $1.25 billion, will be spent in regional and rural Vicotria.
Some experts, however, warn this will not be enough to counter the public housing shortage. A committee found Victoria would need to build 3,400 social houses annually to keep up with demand.
Additionally, 3% of total housing stock in Victoria is social housing – the lowest of all the states and territories.
The nine members are Steve Gross – who is the Chair – along with Meredith Sussex, Jefa Greenway, Sarah Clarke, Tam Nguyen, Lucy Roffey, Danielle Dalby, Wade Noonan and Pat Cashin.
The board will provide advice on long-term strategic direction, community outcomes, financial performance and growth along with identifying opportunities in the social housing arena.
Richard Wynne, the Victorian Minister for Housing, is confident the new team will successfully deliver the decade-long program.
“This group has the skills, experience and vision needed to deliver on our landmark investment in new homes and support Victorians doing it tough.”
“I look forward to working with the new Board to create a stronger and more sustainable housing system for Victoria.”
Richard Wynne, Minister for Housing
Meanwhile, amid news of the rocketing property market and people being left behind, the federal Labor party announced a $10 billion fund to provide social housing in last week’s budget reply speech.