The Victorian Real Estate Commission outlined a seven-point plan focused on the Victorian real estate industry.
The lobbying group’s seven-point plan included a proposal to promote the economy of housing construction, suggesting that the first-time homeowner subsidy for new housing should be tripled for a period of six months; postponement of stamp duty on new housing buyers for a period of three years.
The seven-point plan also includes rapid approval of projects, relaxation of current C270 CBD planning controls, lifting of suspension orders for development activities, and tax reforms including the resumption of stamp duty reduction policies for project investors in the next 12 months. The Real Estate Commission stated that in the “supercharging plan”, industrial projects are one of the key areas of state economic development. The committee recommends giving priority to the government’s remaining land, including small, medium, and large lands and zoned land; the rapid approval of industrial projects of 1,000 hectares of land released; and the provision of $40,000 in subsidies to industrial projects that use more than 51% of local materials and labor.
