COVID-19 UPDATE: Builders remain open, and iBuyNew's independent experts are available to guide you through your property purchase journey. Read more about how we can help.
News   In the Media   Victorian Government Extends First Home Owners Grant Until Mid-2021

Victorian Government Extends First Home Owners Grant Until Mid-2021

Published on 7th May by iBuyNew

Victorian Government Extends First Home Owners Grant Until Mid-2021

This article has been republished and originally appeared on our sister site here.

The Victorian State Government has announced that they will be extending the $20,000 First Home Owners Grant for an extra 12 months in an effort to help boost activity in the housing market amid the COVID-19 pandemic. This announcement only covers those planning to buy or build a new home in regional Victoria.

The First Home Owners Grant, which was due to end in June, will be extended until the middle of 2021.

“We know the coronavirus pandemic is making it even tougher for young people to achieve their dreams of homeownership – That’s why we’re extending the grant which has helped so many regional Victorians,” said Tim Pallas, state treasurer of Victoria. Source.

In order to be eligible for the grant, purchasers must be first home buyer’s who are buying or building a new property that is valued up to $750,000 in regional Victoria. The property must also be used as the principal place of residence for 12 continuous months following settlement.

Fiona Nield, HIA’s Victorian Executive Director said: “The Government’s intention to extend the $20,000 First Home Owners Grant for people buying or building a new home in Regional Victoria for an extra 12 months is a much-needed boost to those who are thinking of taking the step into homeownership.”

“This will also be critical in the coming months to stabilising home building activity in the regions.”

Furthermore, Nield said that this boost will provide a much-needed stimulus to regional jobs and employment, which can also help to stabilise activity. Source.

A $10,000 grant is available for those purchasing in Metropolitan Melbourne.

Are you a first-time buyer thinking of buying a property off the plan? iBuyNew can help you choose the perfect property for your needs, whether that be a house and land package, townhouse or apartment.  Contact us by phone on 1300 123 463 or email on and let's start a conversation.


Your destination for off the plan property.

Did you like this article?

Sign up to the iBuyNew newsletter to receive more articles and property news straight to your inbox.


As seen In the media

3 reasons to choose iBuyNew

Our sole focus is new property

We help you review, compare and choose your ideal off the plan property around Australia

Largest selection in Australia

Choose with confidence knowing you have considered, compared and selected from all our available options

Total Service ManagementTM

We provide you with the decision assistance and guidance from ‘selection to settlement’ and beyond