Media Release

28 April 2013   

Tony De Domenico Executive Director UDIA (VIC)

Victorian Government Boost to First Home Buyers Grant
To Build Jobs

The Urban Development Institute of Australia (Victoria) today said the boost to the First Home Buyers Grant by $3000 to $10,000, focused on new construction and would maximise the employment potential of the industry at a time when every new job counts for the Victorian economy. 

Executive Director of the UDIA (VIC) Tony De Domenico said, "The property industry in Victoria directly employs around 310,000 full time employees, contributes around 12 per cent of the state's gross domestic product and $4.6 billion in taxes to all tiers of government."

"Whilst we still have population demand as a positive driver of the market, the announcement today by the Victorian Treasurer Michael O'Brien, will add an urgently needed stimulus to the market for new housing and help 'Build a Better Victoria' at a time of an extremely tight Budget for the State."

Mr De Domenico said, "Behind every new home stands the employment of a range of trades people, employment networks of suppliers and ultimately the retail sector with homes requiring white goods, furniture and services."

"The new house and land package market is a major area of economic activity for thousands of small businesses across the State in metropolitan, regional and country areas," Mr De Domenico said. 

Media Enquiries: 

Ron Smith, Corporate Media Communications, UDIA (VIC) - Mobile:  0417 329 201