Victorian Homebuyer Fund to encourage first home buyers
Staff reporterDecember 7, 2020
A $500 million Victorian Homebuyer Fund was announced in the Victorian State Budget to help first homebuyers break into the property market.
The fund will contribute to the purchase price in exchange for equity interest in the property, reducing the size of the deposit required by the first time buyer.
The plan will reduce the size of the deposit needed for homes, new and established.
The decision follows a successful pilot program.
It will help people who do not have a 20 per cent deposit.