Increase to first home buyers in regional Victoria

The Property Council welcomes the Victorian Government’s announcement on the doubling of the First Home Owner Grant for purchasers of newly constructed homes in regional Victoria today.

Property Council Victorian Executive Director, Sally Capp, said that this will improve the capacity of first home buyers to get into the market.

“Housing markets in regional Victoria should benefit from this bolstered incentive,” said Ms Capp.

In welcoming the changes, the Property Council also urged for a review to ensure that it fulfils Government’s objectives.

“While we support this increase, it should however be coupled with a review in three years’ time to determine the uptake and its effect,” said Ms Capp.

“There is no point in increasing the Grant unless there are Victorians who are taking advantage of it.”

“We commend Government on their suite of housing affordability policy initiatives; they are to be congratulated on their ambitious agenda.”

“We encourage Government to be brave and work with the private sector to look for further initiatives to deliver affordable housing in desirable locations,” said Ms Capp.

Media contact: Sally Capp | M 0439 983 693 | E scapp@propertycouncil.com.au