Uncertainty Hangs on Victoria’s New Housing Levy

Uncertainty Hangs on Victoria’s New Housing Levy
A sale board stands out the front of a property in Middle Park in Melbourne, Australia, on June 17, 2011. Quinn Rooney/Getty Images
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The Australian state of Victoria may abandon a newly proposed housing levy after the Andrews government said the property sector reneged on its promise to support reforms in the industry.

The state government on Feb. 18 announced the new Social and Affordable Housing Contribution, which would impose a 1.75 percent levy on all newly built developments with three dwellings or more from July 2024, to raise funds for constructing thousands of social and affordable homes.

Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
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