A new suburb has been approved in regional Victoria, paving the way for up to 2900 new homes.
The Victorian government has approved a new suburb in Shepparton, a regional city located two hours north of Melbourne’s CBD.
According to the 2021 census, the city has over 50,000 residents and the state government suggests the area is poised for growth.
PropTrack data shows the city’s median house price has increased 2.5% over the last 12 months to $460,000, while the median unit price has increased by 4% to $390,000.
Minister for planning Sonya Kilkenny approved the Shepparton South East Precinct Structure Plan (PSP), which could see up to 2900 new homes accommodating for over 7000 future residents.
The approval is part of the state government's broader plan to increase housing availability by freeing up land and cutting red tape that slows the approvals process.
The new suburb in Shepparton's south east could see over 7000 future residents. Picture: Getty
“We’re unlocking more land to deliver more homes close to work, transport, education and services in Shepparton, and planning more homes in the communities where Victorians want to live,” Ms Kilkenny said.
A PSP serves as a planning guideline that outlines where land will be developed, and the services and infrastructure needed to support new communities.
The southeast area of Shepparton has been earmarked for development for more than a decade, initially identified in the Hume Regional Growth Plan and the Greater Shepparton Housing Strategy in 2011. It is also highlighted in the Shepparton and Mooroopna 2050: Regional City Plan.
This area is one of 21 priority projects identified across Victoria under the state government's housing statement.
Developed in coordination with the Greater Shepparton City Council, the PSP is the largest of five proposed major growth corridors in the Shepparton-Mooroopna urban area.
It applies to approximately 385 hectares of land and leverages proximity to existing commercial land, including the Shepparton Marketplace and existing aged care accommodation.
The plan outlines a liveable precinct that delivers new housing, services and infrastructure for the growing south-east area of the city.
The new suburb, which is yet to be officially named, will have walkable neighbourhoods, community facilities and local parks. It’s also set to feature a new recreation reserve and integrated walking and cycling paths that connect residents to essential services.
“Regional Victoria is a fantastic place to live, and we're committed to giving more young Victorians and families the opportunity to call this beautiful region home,” member for northern Victoria Jaclyn Symes said.
The precinct is also expected to create around 275 local jobs.
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