Media Statements
Joint Statement - Victorians pay the price for Labor’s housing failures

Joint Statement – Victorians pay the price for Labor’s housing failures
John Pesutto, Leader of the Opposition
James Newbury, Shadow Minister for Planning
Victoria’s housing affordability crisis continues to worsen under the Allan Labor Government.
More than a year since Labor’s “Housing Statement” was announced and key housing delivery and affordability outcomes continue to deteriorate, including:
- The rental market has continued to tighten with total active bonds falling by 12,075 in the June 2024 quarter – the largest drop in 25 years.
- The number of homes actually built across the 12 months to June 2024 fell by 2,700 on the preceding year.
- The number of private sector home approvals fell by 2 per cent lower in 2024, when compared to 2014.
- Labor’s highest-in-the-nation property taxes continue to climb, with Land Tax, Rent Tax and Stamp Duty expected to raise almost $20 billion by 2027-28.
- Domestic building insurance premiums jumped 65 per cent, in addition to a 43 per cent increase in September 2023.
- Labor’s public housing delivery agency, Homes Victoria, suffered a $236.1 million operating loss across 2022-23.
Furthermore, shortly after announcing the statement, Labor abandoned its promise to build 80,000 new homes a year.
In addition, Labor announced a new tax – Labor’s 55th new or increased tax or charge since 2014 – on short-stay accommodation across Victoria.
Leader of the Opposition, John Pesutto, said: “After a decade of Labor, Victoria’s housing affordability crisis has never been worse.
“More than 12 months on from Labor’s Housing Statement and Victoria has fewer homes being built, approved and available for rent, all whilst taxes and charges continue to climb.
“The Allan Labor Government is out of ideas and has no plan to address the housing affordability crisis its own mismanagement has caused.
“Labor cannot manage money, cannot manage housing and Victorians are paying the price.”
Shadow Minister for Planning, James Newbury, said: “Only Premier Allan and Labor could announce a housing plan that will actually see the number of properties built in this State go backwards”.
“Don’t be conned by Labor’s spin, they will never fix the housing crisis, they will only ever make it worse”.
John Pesutto, Leader of the Opposition
James Newbury, Shadow Minister for Planning