Budget Boost for New Homes

HIA has welcomed the Victorian Government’s budget measure to boost the state contribution to the First Home Owners Grant.

HIA's Victorian Executive Director Gil King said: "This is a proactive measure that recognises the value of the residential construction industry to Victoria's economic activity and employment.

The boost to the First Home Owners Grant for new homes has lifted business confidence in the industry and assisted thousands of aspiring first home buyers looking at purchasing a new dwelling."

The boost has lifted business confidence

Today's budget announcement takes the First Home Owners Grant for new homes in Victoria to $18,000 in metro centres and $22,500 for new homes in regional areas of Victoria.

"The Victorian Government has through this budget measure confirmed the importance of the housing industry to the Victorian economy. We expect the boost will provide up to 4,000 new jobs for the industry over the next twelve months and provide opportunities for apprentices right across the state," said Gil King.