Victoria Is at a Turning Point and Trust Will Shape What Happens Next
Victoria’s construction and property sectors are facing a moment of transformation.
With a mix of large-scale infrastructure projects, growing build-to-rent pipelines, and complex urban infill developments across Melbourne, the pressure on developers, builders, and consultants has never been higher.
At the same time, consumer confidence has declined, delivery risk has increased, and insurers are becoming more selective.
While NSW and the ACT have taken decisive steps to strengthen trust and transparency through iCIRT (Independent Construction Industry Rating Tool), Victoria is still relying on a more traditional model of regulation, oversight, and market reputation.
But that gap is quickly becoming visible.
And Victorian industry leaders are starting to ask an important question:
What can Victoria learn from the states that have already embraced verified trust?
Why ACT and NSW Are Already Ahead
The ACT was the first jurisdiction in Australia to legislate a requirement for certain developers to be iCIRT-rated.
NSW, through Construct NSW and the Building Commission, aligned its reforms with iCIRT as a way to verify capability and restore confidence across the state.
Both states now benefit from something Victoria lacks:
A consistent, independent way to measure capability, conduct, governance, and delivery performance.
This shift has delivered immediate results:
- Buyers feel more comfortable purchasing off-the-plan
- Financiers have clearer risk signals
- Consultants and builders are aligning under a shared trust benchmark
- Developers with strong ratings are differentiating themselves
- Government approval bodies have an objective, evidence-backed view of participants
These aren’t small advantages, they are reshaping how projects get planned, approved, financed, and delivered.
Victoria is watching closely.
The Victorian Market Is Demanding More Transparency
Victorian consumers have become more cautious following years of challenging headline projects and mixed delivery outcomes.
At the same time, market conditions have shifted dramatically:
- Build-to-rent is expanding
- Social and affordable housing is moving onto central stage
- Large precincts like Arden and Fishermans Bend continue evolving
- Consultants and builders are being pushed to do more with tighter margins
- Insurers are applying stronger scrutiny
- Offshore financiers are demanding clearer risk visibility
The missing piece in Victoria?
A widely accepted framework of verified trust that helps separate high-performing businesses from the broader market noise.
This is where ACT and NSW have made meaningful progress and where Victoria can benefit most.
Why Verified Trust Matters More for VIC’s Emerging Project Types
Victoria’s development landscape is diversifying faster than any other state.
And these new project types demand stronger trust foundations:
1. Build-to-Rent (BTR)
Long-term operational stability requires reliable delivery partners.
iCIRT offers an objective view of capability and financial health.
2. Urban Infill
Complex sites with community expectations benefit from developers with verifiable governance and capability.
3. Social and Affordable Housing
Government and institutional funders want transparency and proven performance.
4. Design-Led Development
As design ambition increases, so does the need for disciplined delivery systems.
Victoria is innovating , and innovation needs confidence.
How iCIRT Could Strengthen Victoria’s Industry
If Victoria were to adopt the same verification approach used in NSW and the ACT, the benefits would be significant:
✔ Greater confidence for buyers
Especially in off-the-plan developments.
✔ Stronger partnerships with financiers and insurers
Markets respond favourably to proven, verified operators.
✔ More reliable consultant and builder networks
Ratings create clarity across the supply chain.
✔ Higher-quality project outcomes
Because capability is assessed upfront — before problems emerge.
✔ Stronger competitive differentiation
Developers with strong governance and delivery performance would stand out.
Victoria has the potential to lead, but it needs the right tools.
Looking Ahead: Why Victoria Will Shift Toward Verified Trust
While VIC has not yet legislated or formally aligned with iCIRT, the market dynamics are pointing clearly in one direction:
- More developers are voluntarily seeking ratings
- Consultants are preparing for future requirements
- Financiers are increasingly asking for proof of capability
- Buyers want more transparency
- Government bodies are evaluating frameworks used in other states
It’s becoming evident that trust will become a competitive advantage, not a compliance exercise.
And Victoria is preparing for that shift.
How iCIRT Advisory Helps Victorian Developers, Builders & Consultants
At iCIRT Advisory, we support Victorian businesses that want to get ahead of the curve by:
- Conducting rating readiness reviews
- Strengthening governance and documentation
- Helping teams prepare for an iCIRT assessment
- Assisting consultants in positioning themselves for future procurement changes
- Working with developers to leverage ratings in a competitive market
For Victoria, verified trust won’t just be a requirement, it will be a market opportunity.
Contact us to position your business for what’s next in Victoria.
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iCIRT Advisory
Australia’s first advisory dedicated to helping builders, developers, and consultants get iCIRT rating-ready.
We are a passionate Australian based company that aims to help increase the speed at which builders and developers get iCIRT Rated for the overall good of the Construction Industry.
