Expansion of the Victoria Homebuyers Fund

Hello Chasers,

If you are in the market for a home, there is some welcome news from the Victorian State Government.

As part of the 2024-25 State Budget, the Victorian Government has announced a $700 million expansion of the Victorian Homebuyer Fund.

Last month’s Budget also included the following Homebuyer Fund eligibility requirements changes from 1 June 2024:

  • Increasing the regional purchase price cap from $600,000 to $700,000, and
  • Increasing single-parent applicants in the joint applicant income threshold of $208,775.

From 1st June 2024 until 30th June 2025, there will also be a monthly cap on the number of applications accepted.

The Homebuyer Fund was established in 2021 and is a shared equity scheme in which the government makes a financial contribution to the purchase price of an eligible property, in exchange for a proportional interest, or share, in the property.

If you are interested to learn more about this assistance for buying your home, please reach out to our Team on 0355612643.

Have a great day!

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