$20,000 regional Victorian first home owner grant extended until June 2021
Victoria's $20,000 first home owner grant has been extended for anyone buying or building a new home in regional Victoria until 30 June 2021.
The state budget confirmed "the extension gives more Victorians the opportunity to live locally and enter the property market for the first time, while also supporting jobs in regional Victoria”.
The government website says if you are buying or building a new home valued up to $750,000, you may be eligible for a First Home Owner Grant (FHOG).
"If you are eligible for the FHOG and the home you are buying is in regional Victoria, you will receive $20,000.
"If the home is not in regional Victoria, the grant is $10,000."
It was in 2017 when the Labor government doubled the regional FHOG from $10,000 to $20,000 to tackle housing affordability.
More than 8,800 regional FHOGs have been provided, which have resulted in savings of $176 million for home buyers over the past three years.
The regional grant is part of the government’s Homes for Victorians package, which also offers a $10,000 FHOG for eligible purchases in metropolitan Melbourne and offers stamp duty exemptions and discounts for new homes up to $750,000.
To be eligible for the grant, the purchaser or purchasers must use the house as the principal place of residence for 12 continuous months following settlement.