Victorian government’s 800,000 home plan falters

Population growth is outstripping home approvals in many parts of Melbourne, while Victoria is falling well behind the number of builds needed to make the state government’s Housing Statement target. Population is outpacing home building in more than 70 parts of Melbourne in a worrying sign for the city’s housing supply. It comes as a separate Housing Industry Association forecast reveals Victoria is falling far short on the number of builds needed to meet the state government’s target of constructing 800,000 new residences between 2024 and 2034. The first report shows areas of Collingwood, Brunswick East, Truganina, Doncaster, Point Cook and Craigieburn were among the hotspots where new resident numbers grew faster than the supply of new homes across the two financial years between 2023 and 2025. RELATED: Victorian government forces homeowners to reveal sold property prices Victoria to fall 36,000 homes short of target after federal budget tax hit Melbourne house prices tumble to 2021 levels after $63,500 wipe-out Approvals from the 2025-26 financial year show many areas are yet to catch up with demand, as well. Industry experts have labelled the issue a “massive alarm bell” for t...