The price of building and buying a family home is set to increase further as Daniel Andrews prepares to impose yet another housing cost hike.
From May 2 2022, the Andrews Labor Government will significantly hike fees for both individuals and company building registration – adding further costs and upward price pressure on Victorian housing.
The increases to several categories are steep and unjustified. The annual and five yearly registration fees have an increase of up to 200 per cent depending on whether the category is individual or company.
One annual fee has gone up from $228.90 to $644, an increase of 181.35 per cent, while another five-year renewal fee has jumped from $457.80 to $1,416.80, also an increase of 181.35 per cent.
These increased charges on builders can only increase the cost of building a house and come hot on the heels of Daniel Andrews’ so-called Windfall Gains Tax and another new housing tax that would add up to $20,000 per house.
With up to 40 per cent of the price of a new house going straight to taxation and the State Government continuing to roll out new taxes on housing and new costs on building, it is little wonder young Victorian families are finding it so hard to realise the Australian dream of home ownership.
Only a Matthew Guy Liberals and Nationals Government will commit to introducing no new taxes and back families and small businesses to recover and rebuild.
Comments attributable to Shadow Treasurer, David Davis MP:
“Labor is addicted to taxes and charges. Their mismanagement and waste on major projects is forcing Daniel Andrews and his Treasurer, Tim Pallas to grab revenue from everywhere they can.
“Now builders will be forced to pay more for basic building registration to cover the cost of Daniel Andrews’ waste and mismanagement.
“These hefty new charges on building and builders can only force up the cost of new homes. Ultimately the cost of these savage new charges will be passed through to Victorian homebuyers.”
Comments attributable to Shadow Minister for Housing, Ryan Smith MP:
“Builders, tradies and small building companies will be hit hard with these new fees and charges, forced through by Daniel Andrews.
“A competitive Victorian housing sector needs lower charges, not higher charges and builders deserve better.
“There is no justification for these increases, which will only add to the cost of doing business and drive home prices up further.”