The First Home Owner Grant (FHOG) in Victoria is not limited to Melbourne; it is also available to eligible buyers in regional areas across the state. The grant offers $10,000 for the purchase or construction of a new home, helping first home buyers outside the city to enter the property market. This support is particularly important in regional Victoria, where housing affordability and access to new developments can vary.
Eligibility criteria for the FHOG in regional Victoria are largely the same as in Melbourne. Applicants must be first-time home buyers, Australian citizens or permanent residents, and intend to live in the property as their principal place of residence for at least 12 months. The property must be a new build and valued under the relevant threshold. However, some regional areas may offer additional incentives or have different price caps to reflect local market conditions.
The FHOG has played a significant role in encouraging growth and investment in regional Victoria. By supporting first home buyers, the grant helps to stimulate local economies, create jobs, and increase the supply of modern housing. For those considering a move to the regions, the FHOG provides a valuable opportunity to secure a new home and enjoy the benefits of regional living12.
Find out more here:
https://www.sro.vic.gov.au/first-home-buyer-grant-and-bonus-amounts
