The Master Builders Association of Victoria has welcomed the government announcement to introduce an independent assessment process to advise on the potential expansion of the Urban Growth Boundary (UGB).
Master Builders Executive Director, Brian Welch commended the move saying “A rethink of the UGB boundaries is critically needed to address housing affordability issues”.
Addressing Victoria’s dwindling land supply is a key pillar of the Master Builders “Is anybody listening?” housing affordability campaign.
“According to Oliver Hume Research, the UGB is now at capacity, with the cost of land accounting for over 50 per cent of the price of a new home in the outer suburbs.”
Welch said “following the announcement of demand side incentives in the state budget, I am pleased to see that they are now being mirrored on the supply side with a UGB review”.
Ensuring adequate transport infrastructure for new developments is in place, is also of vital importance to the Master Builders.
“Any expansion in the UGB also needs to align with existing or new public transport infrastructure plans, to ensure that future developments are connected to job and business corridors,” Welch said.
For more information on the Master Builders campaign to improve housing affordability for Victorian’s visit www.isanybodylistening.com.au
