The Victorian government plans to build a billion dollar social housing fund to build apartments to help vulnerable families who are unemployed, in poor economic conditions and homeless during the epidemic. With $ 1 billion in funding from the state government, over 2,000 units will be provided to vulnerable groups in Victoria over the next five years. Units in Werribee and Doveton have been completed at this stage, and more social housing will be built in Bundoora and Thornbury. The Social Housing Growth Fund was established in 2018 to create a continuous investment channel for affordable housing. Eligible community housing groups can obtain low-interest loans to help promote the development of Victorian communities.
With the latest funding, more than 780 homes scattered in 25 locations in Melbourne and Victoria will be completed by 2023. The Victorian Indigenous Homes in Werribee and Doveton are the first completed social housing in this round of financing. This year, more homes will compete in areas such as Grovedale, Mernda, Hampton Park and Thornbury.
Victorian Housing Minister Richard Wynne said everyone should get basic housing security. He said: “By 2023, the plan will provide more than 780 new units to ensure that homeless people and people who are victims of domestic violence can have new homes.” Victorian Finance Minister Tim Pallas said: “In the next five years, we will provide low-cost rentals for people who need housing to build up to 2,200 new homes.” The housing project is built on private, non-profit and local municipal land, and there is also a plan to lease real estate from the private market. The government stated that the reason for the establishment of the fund was due to insufficient investment in social security housing for many years.