LILY HOFFMANN
Local real estate agents believe while the increased Home Owner Grant will increase business, it may impact the town’s supply of available residences when it comes to affordability.
The grant will double from $10,000 to $20,000 as of July 1.
The increased grant is specifically for regional Victoria, with the aim of improving the economy and real estate market in rural communities.
The Home Owner Grant has again raised the issue of land availability, which is currently limited in the Swan Hill area.
Fiona Hawley of Ray White Real Estate said first home buyers were limited to the land at Tower Hill, due to prices.
“That is the most affordable vacant land in our area,” Ms Hawley said.
“At the moment I believe they are down to two or three blocks, and there is a new stage to be released very soon hopefully.”
Darren Scarce of BR&C Real Estate believes the incentive is long overdue.
“It is getting harder and harder, even in regional centres, to own the great Australian dream,” Mr Scarce said.
“Any financial incentive to help young people obtain a home can only be a good thing.”
Ms Hawley expects the grant will encourage people to consider building their first home.
“Maybe people that were putting off buying a block and building might bring that forward because they will have $10,000 more to put towards the process,” Ms Hawley said.
For more on this story, check out Monday’s Guardian (March 10)
