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AAP

Politics

Emily Woods

Social housing levy on new Vic home builds

Housing Minister Richard Wynne says the new levy is the biggest ever commitment to social housing. (AAP)

A proposed levy on new builds in Victoria to fund social housing has been hailed as "groundbreaking" by community groups, while property bodies say the reforms will hike prices for first homebuyers.

Planning Minister Richard Wynne on Friday announced a 1.75 per cent contribution will be imposed on new developments to pay for the construction of thousands of social and affordable homes from 2024.

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