A $5.3 million plan to support Aboriginal Victorians beating homelessness and maintaining long-term housing aims to make changes within a generation.

The Victorian Aboriginal Housing and Homelessness Framework will fund initiatives such as an Aboriginal-specific private rental program, community engagement activities and exploring future housing investment.

Part of the Victorian Government plan will also gradually transfer 1448 public housing properties valued at $409.4 million to community ownership through Aboriginal Housing Victoria.

Funds will also go to the More Than a Landlord program, which provides life coaching and support towards education, employment and stable housing for Aboriginal Victorians.