The number of new house approvals in Victoria has plunged to its lowest level in more than a decade.

It’s cast further doubt on the state government’s promise to tackle housing affordability with 80,000 new dwellings a year.

Chief Economist at the Housing Industry Association, Tim Reardon, says there is a key reason why housing construction has plummeted in the state, but claims it’s a “very good time” for government’s to be building public housing stock in the next 12 months.

Press PLAY to hear him explain why

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