First home buyers boost

THE Federal government’s decision to expand the First Home Buyers Scheme will have amazing benefits to regional Victorian real estate.

The REIV openly welcomes the plan, which will encourage first home buyers on lower incomes to enter the property market with a deposit of just 5 per cent.

In regional Victoria, a 5 per cent deposit will mean that a potential homeowner would only need to save $18,750 to purchase a property worth $375,000 under the expanded scheme that comes into effect in January 2020.

The announcement has created a lot of buzz across Victoria’s real estate sector. More buyers will also mean more houses being constructed and extra jobs in our region.

The First Home Buyers Scheme will also be attractive to new buyers looking to relocate in regional Victoria where they get better value for money and a terrific lifestyle to boot.

The regional Victorian real estate sector is already in healthy shape, with the recent REIV quarterly median figures showing the market is bouncing back.

This summer is a fantastic time for sellers, with extra buyers around there’s a need for more properties to sell. If you were unsure about listing your home, now is the perfect time to do so.

Last week we held the Annual REIV Excellence Awards at Crown. The Awards continue to be the night of nights for anyone in Victorian real estate.

We had one of our biggest awards nights in 2019 with 117 finalists competing across 37 categories.

Well done, to all of the 2019 finalists and winners, you all deserve to feel extremely proud of your efforts. The quality of this year’s finalists is a sign that the Victorian real estate sector is in great shape.