Invest
Victoria launches $500m fund for home buyers
The Victorian state government has launched a new scheme that promises to make life easier for first-time home buyers.
Victoria launches $500m fund for home buyers
The Victorian state government has launched a new scheme that promises to make life easier for first-time home buyers.

Originally announced in November 2020, the Victorian Homebuyer Fund (VHF) is now ready for launch.
Building on an earlier $50 million pilot program, the shared equity scheme promises to reduce the amount of money home buyers need for their initial deposit.
Participants in the VHF scheme will only require a 5 per cent deposit on a property rather than the typical 20 per cent.
Via the VHF, the state government will effectively back up to 25 per cent of the purchase price in exchange for an equivalent share in the property. Over time, participants eventually buy out the government’s share. The reinvested funds then go on to help other future Victorian home buyers.

Unlike the previous HomesVic Shared Equity Initiative, the VHF isn’t exclusively available to first home buyers. Eligibility is broader across the board, with individuals with higher household incomes able to apply and buy in a broader range of locations.
VHF participants will be able to purchase property in both metropolitan Melbourne and a number of regional options.
For those who choose the former, the property value cannot exceed $950,000. Meanwhile, purchases in regional Victoria (excluding Geelong) are limited to $600,000.
For Aboriginal and Torres Strait Islanders, the terms are even more generous. The VHF promises to let them make a property purchase with a deposit of as little as 3.5 per cent.
Victorian Treasurer Tim Pallas said that the pandemic has underscored both the value of property and the urgency of helping Victorians secure a home, and that the scheme would make it easier for thousands of Victorians to secure their own home.
“This will make it easier to secure your own home, and we’re proud to play our part in helping Victorians realise this dream — because there’s no place like home, and we want every Victorian to know that feeling,” Mr Pallas said.
Where the previous scheme helped more than 335 Victorians buy their first home, the new $500 million fund is expected to support around 10 times that many transactions.
“It can take years to save for a deposit — through our Victorian Homebuyer Fund, more than 3,000 Victorians are expected to enter their own home sooner,” Mr Pallas said.
About the author

About the author


Property
North platform adds household reporting feature to boost adviser efficiency
AMP's North platform has launched consolidated household reporting across multiple client accounts, helping financial advisers streamline their client review processes. Read more

Property
What Adds The Most Value To Properties?
Wondering how to up the value of your property? Properties are worth a lot of money in general, but there’s always a way to maximise value. The good news is that most of the things you can do to ...Read more

Property
Centuria reports strong growth in alternative real estate sectors for FY24
Centuria Capital Group has reported significant growth in alternative real estate sectors for the 2024 financial year, driving stable performance and increased guidance for FY25. Read more

Property
How to leverage equity in your home for investment or renovation
Home equity, the value of your property minus any debts owed, is a powerful financial resource many homeowners in Australia can utilize to further their financial goals. Whether you're looking to ...Read more

Property
Exploring REITs: Real estate investment without buying property
Real Estate Investment Trusts (REITs) offer a compelling investment alternative for those interested in the real estate market but may not want to endure the complexities and capital requirements of ...Read more

Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more

Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more

Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more

Property
North platform adds household reporting feature to boost adviser efficiency
AMP's North platform has launched consolidated household reporting across multiple client accounts, helping financial advisers streamline their client review processes. Read more

Property
What Adds The Most Value To Properties?
Wondering how to up the value of your property? Properties are worth a lot of money in general, but there’s always a way to maximise value. The good news is that most of the things you can do to ...Read more

Property
Centuria reports strong growth in alternative real estate sectors for FY24
Centuria Capital Group has reported significant growth in alternative real estate sectors for the 2024 financial year, driving stable performance and increased guidance for FY25. Read more

Property
How to leverage equity in your home for investment or renovation
Home equity, the value of your property minus any debts owed, is a powerful financial resource many homeowners in Australia can utilize to further their financial goals. Whether you're looking to ...Read more

Property
Exploring REITs: Real estate investment without buying property
Real Estate Investment Trusts (REITs) offer a compelling investment alternative for those interested in the real estate market but may not want to endure the complexities and capital requirements of ...Read more

Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more

Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more

Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more