VICTORIA continues to build thousands of more homes than any other state, with more than 61,000 homes completed over the past 12 months—equivalent to building around 168 homes every single day.
ABS data recently released shows that Victoria built 61,300 homes over the year to the end of the September quarter 2024—15,600 more homes than New South Wales and 28,500 more than Queensland.
The data on homes completed in Victoria is an 8.8 per cent increase year on year, while New South Wales built 45,692 homes—a 4.4 per cent decline year on year.
In addition to these findings, the ABS also confirmed Victoria continues to set the national benchmark for home approvals—approving 10,600 more homes than New South Wales and 17,000 more homes than Queensland.
As well as building and approving more homes than any other state, Victoria is also the most popular place in the nation to be a first home buyer.
In the last financial year, Victoria accounted for more than 30 per cent of first home buyer loans in Australia, the highest across the nation.
Minister for Planning Sonya Kilkenny said that while the numbers were encouraging, more needed to be done to secure the market.
“Victoria continues to be number one in home approvals, number one in home starts, number one in home completions—and best of all number one in first home buyers,” she said.
“While these results are encouraging, we know there is more work to do—that’s why working to get more homes off the ground faster, so more Victorians have the opportunity to buy or rent a place close to their family, their jobs, or where they grew up.”
The State Government will look to introduce bold reforms to deliver more homes near train stations in suburbs close to the city, a 10-year pipeline of land for family homes and backyards, off-the-plan tax concessions, more townhouses in the suburbs, and more green spaces.
Since the release of the Housing Statement, Ms Kilkenny has used her powers to deliver more than 15,000 homes—a more than 100 per cent increase on previous periods.
The government will soon release its new plan for Victoria, the first ever whole-of-state plan setting out how to further improve housing affordability and choice through to 2050 as the population grows and establishes final housing targets for every Victorian local government area.
