Ambitious targets announced today by the Victorian Government to build 800,000 new homes over the next 10 years are welcome news for business and people struggling with the high and rising cost of housing, Business Council chief executive Bran Black said.

“Crucially, business welcomes Victoria’s commitment to reform their planning system to enable faster decision making and provide greater certainty on planning approvals.

“Business also welcomes Victoria’s moves to fast-track the rollout of more social and affordable homes, as well a target of 425,600 new homes across regional Victoria.

“We firmly believe that planning system reform is urgent if Australia is going to address the housing supply crisis.

“Earlier this month, the BCA released Regulation Rumble, a comparison of states and territories, including their planning systems. The Victorian planning system ranked second worst.

“So we welcome the Victorian Government taking action to reform its planning system, and to improve efficiency and certainty, with the aim of delivering more housing.

“Business looks forward to working through the details of the proposed plan.”