The Andrews Labor Government is tackling housing affordability and making it easier for Victorians to build their own home, with the Homes for Victorians package helping more than a thousand people across regional Victoria since it was introduced last year.
On 1 July 2017, the Labor Government doubled the First Home Owner Grant in regional Victoria from $10,000 to $20,000. Since then, more than 1,000 first home owner’s grant applications have already been granted to regional Victorians compared to just 394 in the preceding six months.
Treasurer Tim Pallas welcomed the data while visiting Drouin today to mark the start of construction on an exciting development in Drouin that will further ease housing affordability pressures.
The development at Drouin will further boost supply and inject more than $800 million into the local economy.
Works will begin with a comprehensive sewer infrastructure upgrade for the site, which will also service the wider Drouin region and 4,000 future lots within the catchment.
The Drover’s Landing Development will feature more than 1,800 housing lots, together with provision for two schools, a maternal health centre and a kindergarten.
The increased First Home Owner Grant is available to regional first home buyers building new homes valued up to $750,000, and represents an additional $50 million investment in regional Victoria over the next three years.
The Homes for Victorians package also abolished stamp duty for first home buyers purchasing new and existing homes up to $600,000, and discounted stamp duty up to $750,000.
Quotes attributable to Treasurer Tim Pallas
“By doubling this grant, we’re giving young people in regional Victoria even more reason to live locally – making it easier for them to build their first home.”
“Not only does it give them the financial kick-start they need, it means they can remain in their local community, raise their family in local communities and contribute in an enduring and meaningful way.”
“Developments like this at Drouin will create hundreds of jobs in the local community, and will contribute to ongoing jobs growth in regional Victoria.”
Quotes attributable to Seebeck Project Director David Sowerby
“The Seebeck Group has been working closely with Government and the local authorities to bring forward much needed land supply to Drouin and the Baw Baw region.”
“We’re delighted to be able to kick this project off and look forward to meeting the region’s housing demand which continues to grow.”
Reviewed 19 August 2020