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Victorian Election: What the Parties are Promising Property

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Victorians go to the polls on Saturday: ahead of the election, The Urban Developer has compiled a summary of the key campaign promises and policy ideas relating to the property and construction industry put forward by the major parties.


 

Australian Labor Party 🔴 

Victorian leader: current Victorian Premier Daniel Andrews

Construction

Premier Daniel Andrews’ promises include the massive construction projects currently under way as part of the Big Build initiative.

They include the removal of 110 level crossings by 2030, which involves the raising of railway lines and stations; the construction of the Suburban Rail Loop,  the Metro Tunnel, and the Airport railway: creating the West Gate Tunnel project to take trucks off roads; and upgrading all regional railway lines.

Job creation is a major aim of the projects with 8000 jobs mooted for the Airport line alone, for which the state and federal governments are each committing $5 billion.

Andrews has also committed to building 100 new schools and 50 government-owned and operated childcare centres, as well as making kindergarten and some TAFE courses free.

As part of the health policy, he has also committed to building the Royal Melbourne and Royal Women’s Hospital Campus in the Arden Precinct with free TAFE education for those going into nursing.

Energy

Andrews plans to embrace renewable energy, bringing back the State Electricity Commission to help lower the cost of energy for households and to build renewable energy projects.

The target is to hit 95 per cent renewable electricity by 2035 and reach net zero emissions by 2045.

He also plans to install 100 new neighbourhood batteries and promised $10 million for a Hydrogen Worker Training Centre and $6 million for a Wind Worker Training Centre. 

The party estimates that this will create 59,000 renewable energy sector jobs.

Housing

The ALP plans to cap rent increases to one per year in an attempt to solve the housing affordability crisis. 

It has also announced stricter standards for rental housing, from lockable doors and openable windows to working heaters, and hot and cold water.



Liberal Party of Australia 🔵

Victorian leader: Matthew Guy

Construction

The Liberals plan to cancel the planned Cheltenham to Box Hill railway line to redirect funds to healthcare initiatives.

Guy is also promising to build or upgrade more than 20 new hospitals. 

These include a new dedicated infectious diseases response dentre and new hospitals in Melton, Wantirna, Albury-Wodonga, Shepparton and Mildura.

There will also be a new medical research precinct for the Box Hill Hospital and new Geelong Metro plan.

The party is also promising a $1.5-billion roads package for Melbourne’s western suburbs.

▲ Housing affordability is among the top issues for the Victorian election.

A freight network and 600 new electric vehicle charging stations are also promised along with $1 billion in investment in manufacturing in the regions.

Planning and housing

Guy has promised to cut the “tradie tax” (a May 2022 building practitioner tax increase) and to remove stamp duty for property transfers between spouses. 

He also wants to pause the electric vehicle tax until 2027 and reverse land taxes for charities. 

There will be a 25 per cent regional infrastructure guarantee and other planning reforms that do not include the $20,000 social housing tax.

Major projects of more than $100 million will be audited and there will be a new public works committee.

Guy has promised to unlock 150,000 new lots, deliver an extra 50,000 lots in the regions and offer more assistance to first home buyers.



The Australian Greens 🟢

Victorian leader: Samantha Ratnam

Housing

The Greens have promised 200,000 new accessible and sustainable public or social and affordable homes during the next 20 years which is expected to generate 10,000 jobs.

They also want developers to allocate more affordable housing to first home buyers specifically.

Other policy promises include the limiting of rent increase in line with wage growth, applying a public and affordable housing levy and introducing a housing ombudsman. 

They also want new rental standards for energy efficiency, longer leases to help people stay in their homes and tighter laws to prevent unfair evictions.

Part of the large housing figure would include 100,000 new public homes in the next 10 years.

There would be long-term funding for homelessness, long term affordable housing and community controlled and appropriate housing for First Nations people and families.

The Greens want to include housing options for young people, women, the LGBTIA+ community and people requiring disability accommodation.

The party also wants to spend $500 million on upgrading existing public housing to meet better standards and to improve accessibility standards with new minimum apartment sizes.

There is a push for all buildings to meet 8-star energy standards with a move towards 10 stars by 2030 and a mandatory display of the ratings at a home’s sale or lease.

They also want to regulate the short-stay industry, increase the rate of vacancy tax to 3 per cent, have a land tax instead of stamp duty and reform negative gearing and capital gains tax.

Planning

The Greens want local government and the community to be represented more at all levels of the planning system with mandatory criteria set for the mix of dwelling sizes and guidelines for developers.

Developers will also not be able to donate to political parties or candidates.

They also want to offer incentives for developers to deviate from using gas in projects.

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Article originally posted at: https://www.theurbandeveloper.com/articles/victorian-election-2022-party-policies-property-construction-development-sector