Buying a house in regional victoria

Help to rent, build or buy a house from Consumer Affairs Victoria. Housing information - Consumer Affairs Victoria. This increased First Home Owner Grant will be available for regional first home buyers of new homes valued up to $75000. If your chosen suburb is too expensive, look at neighbouring suburbs with a cheaper price point, a smaller property in your preferred area, or a place in need of renovation. House and land packages in outer suburbs can also be more affordable and country Victoria also gives first time buyers more house for their buck.

How much does it cost to buy a first home in Victoria?

What is the cost of a regional home owner Grant? Regional hotspots in Victoria The buoyant Melbourne market is causing a ripple effect in regional Victoria with median house prices starting to increase in outlying Melbourne areas, though more moderately than in the city, says Real Estate Institute Victoria (REIV) CEO Geoff White. Buying a house in Melbourne is an exciting time when you can explore what’s on offer on the market and begin to build a new life for you and your family. Finding the right home for you and your family involves research and careful consideration. Buying a House in Victoria BC Whether you are already living in Victoria or are moving to this lovely city, you might be thinking about buying a house in Victoria BC.

Regional Victorian towns have emerged as the best bets for budding property investors on a budget , new research has found. Real Estate Institute of Victoria data shows high rental yields — which are double those on offer from the average Melbourne house — are up for grabs in Moe, Stawell, Shepparton and Wodonga. There must be a minimum of property transactions in the year to find a town’s median house price.

A one-off grant (FHOG) of $10for new first homes ($20in regional Victoria ) for homes valued at $750or less. A payment of $10is available to eligible first home buyers who buy or build their new home valued up to $75000. A new increase to the FHOG is a payment of $20for first home owners who buy or build their new home valued up to $750in regional Victoria. To make the process a little easier, we’ve put together this step-by-step guide to buying property in Victoria.

Save the deposit Optimally, you should aim to save per cent of the purchase price, plus enough to cover up-front costs like stamp duty, loan application fees, mortgage registration fees, insurance, moving costs, building and pest inspections, and legal fees. White adds that house prices also increased in regional Victoria over the year, although at a more moderate pace, with the median house price hitting $345in the three months to September 30. What regions of Victoria are popular for investors? For information about the energy efficiency features to look for in a home, visit the Star Standard - Victorian Building Authority. Shepparton is the major centre of the Goulburn Valley, which is responsible for generating a quarter of Victoria’s rural output.

REGIONAL Victoria ’s more affordable property market is powering along as pricey Melbourne’s continues to cool. The median house price in regional Victoria strengthened per cent to $415in the June quarter, almost exactly half of Melbourne’s $840after a slip of 0. All first home buyer applicants who build or buy a new home are also eligible for the Victorian Government’s $10First Home Owner Grant, which is doubled to $20for new homes in regional areas. As noted by Treasurer Tim Pallas “We’ve helped 100Victorian homeowners secure the keys to the home of their dreams. If you are eligible for the FHOG and the home you are buying is in regional Victoria , you will receive $2000. If you are buying or building a new home valued up to $7500 you may be eligible for a First Home Owner Grant (FHOG).

If the home is not in regional Victoria , the grant is $1000. Held at the Melbourne Convention and Exhibition Centre, the expo gave Melburnians looking to buy a house in regional Victoria the information they needed to best decide which location would help them reach their goals in housing, education and careers. Doubling the grant offered to people buying their first home in regional Victoria will help push house prices down, Premier Daniel Andrews says.

From July the First Home Owner Grant will double to $20for new homes valued up to $75000. It does not apply for established homes. The table below is for median house prices for the whole of Victoria.

The median price is not the average price but the midway point in a list of prices from highest to lowest. Half the houses sold cost more than the median and half cost less. It was expected that change would help about 0first home buyers. Take time out in Victoria ’s villages. Stop off at small places.

Find your space at a country pub and learn (or meet) some local legends. Read more: steps to buying a house in Australia. Things to consider when buying a house and land package. Oftentimes, there is a lack of public transport or it’s still in the developmental stages, which can mean longer commute times and could impinge on your.

When buying home and land packages, consider the infrastructure of the area.