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HIA called for the expansion of the Victorian Homebuyer Fund as part of our State Election Imperatives.
HIA’s Victorian Executive Director, Fiona Nield said she was delighted that the state government has listened to HIA and taken this step to address the rapidly rising house prices and interest rates Victorian homebuyers are now facing.
“Shared equity is an effective way to help people into home ownership sooner. The scheme help buyers who despite being able to service the loan cannot obtain finance for the full cost of a home,” said Ms Nield.
“Over the past two decades the rate of home ownership has declined across the country. Critically, home ownership among households aged 25-29 has dropped from 43 to 37 per cent over the past decade.
“Today’s announcement will provide a major boost to Victorian homebuyers, particularly first homebuyers who have received the most assistance from the Victorian Homebuyer Fund.”
Research commissioned by HIA shows that 75 per cent of Australians believe we should be able to own our own home, while 85 per cent of renting households aspire to own their own home – yet only 42 per cent of these households now believe they will achieve it.
Read HIA’s State Election Imperatives 2022.
“New home sales in Victoria just saw their third consecutive monthly increase, up by 15.7 per cent in the month of May,” stated HIA Executive Director Victoria, Keith Ryan.
“The volume of new home sales increased by 6.9 per cent in the month of May 2025, to reach the highest level in 13 months,” stated HIA Senior Economist, Maurice Tapang.
SafeWork NSW has granted an additional exemption to the prohibition on working with engineered stone. This exemption allows for the temporary removal and reinstallation of existing engineered stone to enable repair or modification work to the supporting cabinetry.
HIA is pleased to announce the recent appointments of National President, Mr Ian Hazan and National Vice President Mr David Morris.