Tuesday 25 February 2025
MEDIA RELEASE
Townhouse Code a boost for housing supply prospects, but taxes remain a burden
The Property Council of Australia has welcomed the Victorian Government’s introduction of a ‘Townhouse Code’, to help facilitate faster approvals and boost housing supply across the state.
Property Council Victorian Executive Director Cath Evans said the standardisation of requirements for low-rise buildings would bring homes to market more quickly.
“Ambiguity in design standards can delay the planning process, as there is often no agreement on what constitutes good design outcomes,” Ms Evans said.
“The establishment of a unified code for townhouses will provide clarity for the sector and facilitate more homes across Melbourne.
“However, without critical property tax reform, Victoria will struggle to attract the investment it needs to deliver future housing, despite today’s introduction of the Townhouse Code.”
The Property Council urges the government to adopt its 7-point plan into this year’s state budget, which would provide targeted tax relief to address the fundamental structural issues facing the property sector.
“Our pre-budget tax submission calls for urgent tax reforms to drive investment, boost housing supply and stimulate the property market,” said Ms Evans.
“This includes extending off-the-plan concessions beyond 12 months and expanding eligibility to non-strata townhouses and granting land tax exemptions for high density developments to drive investment and urban growth.”
The Property Council will continue to engage with government on this initiative further and looks forward to getting across further details on the standards compiling the code.
ENDS
Media contact: Nathan McKenzie | 0426 873 229 | [email protected]