The strategy:
- provides more than $2 billion in support for social and affordable housing
- shifts support from investors to first home buyers through tax changes and grants
- improves housing outcomes for Victorians with $770 million in funding.
Homes for Victorians is a way for the whole of Victorian Government to work in partnership with the Australian Government and local councils, the community social housing sector, and the development and construction industries.
Homes for Victorians - Affordability, access and choice
Victorian Homebuyer Fund shared equity scheme
The $500 million Victorian Homebuyer Fund is the Victorian Government’s new shared equity scheme. The scheme will support around 3,000 Victorians to own their own home.
If you have a 5% deposit, the Victorian Government will contribute up to 25% of the purchase price, in exchange for an equivalent share in the property, which can reduce your mortgage. Plus, no Lenders Mortgage Insurance.
Reviewed 24 November 2021