Pallas announces new home buyer bonus

Treasurer Tim Pallas was on hand for the launch of the project, using the opportunity to announce additional initiatives under the state government’s Homes for Victorians package.

Stamp duty will be abolished for first home buyers purchasing new and existing homes up to $600,000, and discounted stamp duty up to $750,000.

It follows the state government doubling the first home owner grant for regional Victorians from $10,000 to $20,000 in July last year. Since then, more than 1000 first home owner grant applications have been granted to regional Victorians, compared to 394 in the preceding six months.

Mr Pallas welcomed the data during the visit to the development at Drover’s Landing, with works to soon begin on a comprehensive sewer infrastructure upgrade for the site, which will also service the wider Drouin region and 4000 future lots in the catchment.

“By doubling the first home buyers grant, we’re giving young people in regional Victoria even more reason to live locally – making it easier for them to build their first home,” he said.

“Not only does it give them the financial kick-start they need, it means they can remain in their local community, raise their family in local communities and contribute in an enduring and meaningful way.

“Developments like this at Drouin will create hundreds of jobs in the local community and will contribute to ongoing jobs growth in regional Victoria.”

The Drover’s Landing Development will feature more than 1800 housing lots, together with provision for two schools, a maternal health centre and a kindergarten.

Seebeck project developer David Sowerby said the Seebeck Group has been working closely with government and the local authorities to bring forward much needed land supply to Drouin and the Baw Baw region.

“We’re delighted to be able to kick this project off and look forward to meeting the region’s housing demand which continues to grow,” he said.