Melbourne’s population growth has not only added a huge amount of pressure to the suburbs, it’s also put just as much financial pressure on those who can least afford it. The result? A housing affordability crisis with more than 100,000 Victorians desperately needing an affordable home.
The problem is now so dire that local councils and housing advocates are calling for action in the lead-up to next month’s state election.
A recent study by the University of Melbourne has shown the stark reality of the lack of affordable housing.
Victoria already needs 164,000 more affordable homes to meet the current demands of very low and low income families struggling to make ends meet. Added to this, the predicted shortfall of a further 30,000 affordable homes over the next decade – meaning nearly 200,000 homes are needed by 2028.
So what’s the solution?
Many believe setting mandatory social and affordable housing targets, or target zones, through legislation would ensure developers cover some of the affordable housing shortfall. But neither the state government nor the opposition have committed to setting targets in the lead-up to the election.
Click here to read more.