Joint Statement - Housing approvals plummet proving Labor’s target is a con

Joint Statement – Housing approvals plummet proving Labor’s target is a con

Evan Mulholland, Shadow Minister for Home Ownership and Housing Affordability

James Newbury, Shadow Minister for Planning

5 March 2024.

The Allan Labor Government’s housing targets have been proven a con as new figures reveal Victoria has suffered the largest drop in housing approvals in more than a decade.

Data released by the Australian Bureau of Statistics (ABS) confirm approvals for new private sector houses in Victoria fell by 16.7 per cent across January 2024 – the sharpest reduction of any state in Australia.

Across this period, a total of just 2,370 new dwellings were approved – the fewest monthly approvals since October 2013.

Shadow Minister for Planning, James Newbury, said: “The Allan Labor Government’s housing target is a con that simply cannot be achieved. Only Labor could reverse the level of housing development after announcing a target for growth.

“With housing approvals almost grinding to a halt, the highest property taxes in the nation and a mismanaged residential construction sector, is it any wonder that Labor will not deliver for those dreaming of owning their first home?”

Shadow Minister for Home Ownership and Housing Affordability, Evan Mulholland, said: “These figures show that Labor cannot be trusted to deliver the new homes Victorians need.

“Instead of increasing taxes including Land Tax, which curbs investment in new housing, the Allan Labor Government must act to get more homes approved and built to put downward pressure on prices.”

James Newbury, Shadow Minister for Planning

Evan Mulholland, Shadow Minister for Home Ownership and Housing Affordability