Home ownership for regional Victorians remains out of reach under Labor, after new data confirmed the annual number of new homes built in Victoria has dropped to its lowest level in more than a decade.
Australian Bureau of Statistics data revealed only 54,323 new homes were built statewide over the year ending September 2025 – the lowest number on an annual basis since 2014.
In September 2023, the Allan Labor Government announced a ‘Housing Statement,’ which targeted the completion of 80,000 new homes a year.
However, in the two years since, only 116,025 new homes have been completed – 43,975 short of the target.
“The numbers don’t lie. Labor’s ‘Housing Statement’ is failing,” Leader of The Nationals, Danny O’Brien said.
“For first home buyers and young families in regional Victoria, the dream of owning a home is becoming harder because Labor cannot manage money and cannot manage housing. The Windfall Gains Tax is a further example of this.”
Recent data revealed the Government’s Windfall Gains Tax, which only exists in Victoria, collected just $15m in revenue last financial year.
The research showed removing the tax would deliver 3100 more homes annually, support 2700 jobs and generate $370 million in additional economic activity.
The Windfall Gains Tax is one 30 new or increased taxes on property Labor has introduced.
“Under Labor, Victoria has the highest property tax burden in the nation. This means fewer homes, higher prices, high rents, and critical investment in new housing supply moving interstate,” Mr O’Brien said.
“Our state needs a new plan to deliver greater housing choice so regional Victorians can have the best opportunity to own their own home.
“Labor cannot manage money and regional Victorians are paying the price.”
