Greg Hankinson , Director - Metropole Constructions
Victoria’s latest planning reforms aren’t seismic, but they do mark a meaningful shift for those looking to build or invest in residential property.
Let’s start with the big one: backyard subdivisions and second dwellings are about to get a whole lot easier.
The government’s move to fast-track approvals through the VicSmart system means processing times could drop from 60 days to just 10, according to the Housing Industry Association.
That’s a big win for homebuilders and small-scale developers. Less red tape, lower costs, and faster turnaround which is exactly what the market needs to unlock underutilised suburban land.
For investors, this opens up new possibilities in established suburbs. Think dual occupancy projects, granny flats, or subdividing larger blocks to create new titles.
With average planning costs expected to fall by around $2,400, the economics of small-scale development just got more attractive
Then there’s the rollout of 50 new Train and Tram Zone Activity Centres. These hubs are designed to deliver over 300,000 new homes by 2051, with taller buildings in the core and low-rise options in surrounding walkable catchments.
Of course, design standards and overlays still apply, but the intent is clear – Victoria seems serious about boosting housing supply and making infill development more viable.
It’s clear that these changes offer new possibilities for those ready to explore well-informed, strategic development as well as a plethora of investment opportunities.
