Regional housing boost ‘critical’

“The government’s intention to extend the $20,000 First Home Owner Grant for people buying or building a new home in Regional Victoria for an extra 12 months is a much needed boost to those who are thinking of taking the step into home ownership,” said HIA’s Victorian executive director, Fiona Neild.

“This will also be critical in the coming months to stabilising home building activity in the regions.

“We have seen considerable home building activity in regional Victoria as many home buyers have accessed the additional grant since it was announced in 2017.”

Ms Neild said the extension of the grant will provide a further incentive for first home owners in the regions to take the next step of building their own new home.

“HIA has been advocating for the government to provide support to home buyers and the home building industry during this difficult time. Given the economic conditions, first home buyers need measured support to have confidence they can buy a new home,” she said.

“This boost also provides a much-needed stimulus to regional jobs and employment, which can help to stabilise activity.

“HIA is once again pleased that the Victorian government is not only keeping the dream of home ownership alive, but is helping to protect Victorian jobs,” Ms Nield concluded.