Budget 2017 to free up defence land in Melbourne's Maribynong for 6,000 homes

Budget 2017 to free up defence land in Melbourne's Maribynong for 6,000 homes
Budget 2017 to free up defence land in Melbourne's Maribynong for 6,000 homes

Treasurer Scott Morrison's Budget focusses on freeing up more land for building homes as part of the measures to address affordability issues in major capital cities.

As part of the move to free-up Commonwealth land, 127 hectares of defence land in the Melbourne suburb of Maribyrnong would be earmarked to allow for 6000 new houses, according to the Herald Sun. The suburb is just 10 km north of the city.

The median house price in Maribyrnong was $940,000, while for units it was $460,000, according to www.realestate.com.au which cited CoreLogic RP Data.

The range of measures announced in the Budget include working with states and territories to reform planning and zoning laws, and setting up a $1 billion National Housing Infrastructure Facility to “address infrastructure chokepoints that are impeding housing development in critical areas of undersupply”.

The decision to unlock defence land for housing development comes amid rising affordability in and around the Melbourne CBD and adds to the state government's earlier measures to ease the situation.

Aside from that, regional Victoria is also set to benefit from a $472 million growth fund to help communities adapt to the changes economy.

Tags: 
Melbourne Federal Budget

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