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{{propApi.successMessage}} {{region}} Change locationVictorian home buyers dreams a step closer
Victorian home buyers dreams a step closer
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“The Victorian Government’s Homebuyer Fund, announced today, is set to see more than 3,000 Victorians achieve their goal of home ownership,” stated HIA’s Victorian Executive Director, Fiona Nield.
The Victorian Homebuyer Fund will assist eligible participants with a 5 per cent deposit step onto the home ownership ladder. The program is a shared equity program whereby the Government supports up to 25 per cent of the purchase price, in exchange for an equivalent share in the property.
“This assists home buyers address the most significant barrier to getting into home ownership, which is saving a deposit.
“We know that over 90 percent of renters aspire to home ownership but less than half believe they will achieve this goal.
“This new approach expands on a recent pilot program and will mean that thousands of Victorians are supported by the Government to achieve their goal of home ownership sooner.
“In combination with other first home buyer support available to Victorians, such as the First Home Owners Grant and other initiatives, this Fund should provide incentives for eligible home buyers to take this next step.
“It is also pleasing to see that this shared equity arrangement will not be limited to first home owners. There are many households that aspire to re-own a home after previously owning one. Until recently there was no support for this equally important group of home buyers and to have a second option become available for these Victorians is extremely welcome,” concluded Ms Nield.
For further information
Record year for new homes starts
More detached homes commenced construction in the 12 months to September 2021 than in any previous period,
Demand for housing and first homebuyer activity remain strong
The value of loans, excluding refinancing, issued for housing towards the end of 2021 was elevated as demand remains very strong.
Ongoing COVID-19 restrictions for the Northern Territory
Lockout across the Territory to end as expected, except for the localities of Yuendumu and Yuelamu.
Building approvals strengthen in November
The number of building approvals issued in November 2021 increased by 3.6 per cent with both detached and multi-unit approvals increasing for the month.
Record year for new homes starts
More detached homes commenced construction in the 12 months to September 2021 than in any previous period,
Demand for housing and first homebuyer activity remain strong
The value of loans, excluding refinancing, issued for housing towards the end of 2021 was elevated as demand remains very strong.
Ongoing COVID-19 restrictions for the Northern Territory
Lockout across the Territory to end as expected, except for the localities of Yuendumu and Yuelamu.
Building approvals strengthen in November
The number of building approvals issued in November 2021 increased by 3.6 per cent with both detached and multi-unit approvals increasing for the month.