The Victorian Government intends to increase the First Home Buyers Grant to $20,000 from $10,000 as of 1 July 2017 to 30 June 2020 for new contracts signed in regional Victoria with a value up to $750,000 for eligible first home buyers.
The grant for eligible first home buyers in metropolitan Melbourne will remain the same at $10,000.
The Government is still to determine the boundaries for regional and metropolitan areas.
The link below provides further details:
Please contact Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 to discuss further.