Bendigo first time buyers receive cash boost
First time buyers looking to purchase residential property in Victoria may be interested in a ...
First time buyers looking to purchase residential property in Victoria may be interested in a federal government initiative to increase housing affordability across the state.
The City of Greater Bendigo has received a multimillion-dollar cash injection under the Building Better Regional Cities program to reduce the cost of new housing developments in the region.
Federal minister for housing and homelessness Brendan O'Connor said the funding would provide Victorians cash incentives of $38,800 for purchasing a first time property in the Viewpoint Huntly Estate.
"We know that housing shortages are creating challenges in growing regional communities like Bendigo," Mr O'Connor explained.
"Thanks to this investment, up to 100 more affordable house and land packages in the Viewpoint Huntly Estate will be made available to low to moderate income earners through a grants ballot to be allocated by Ethan Affordable Housing."
The scheme will increase affordable housing supply in the Bendigo region, assisting more Victorians get a foot on the state's property ladder.
Mr O'Connor said the region's growing population had forced up real estate prices in the area, making it financially challenging for locals to rent and purchase properties.
The Building Better Regional Cities program is part of the federal government's $20 billion investment into addressing housing affordability country-wide.