Vic: First home boom breaks through 5000 barrier

Victorian Premier John Brumby announced that for the first time in Victoria's history more than 5000 Victorians bought their first home in a month with assistance from the Victorian and Federal Governments.

Visiting the boom suburb of Mernda with Acting Federal Housing Minister Jenny Macklin, Mr Brumby said 5193 Victorians had bought their first home in June with government assistance, smashing through the previous record of 4946 applicants the previous month.

Mr Brumby said the figures included assistance for the construction of more than 1489 new homes for Victorian first home buyers in June, creating thousands of jobs in Victoria's construction sector.

Mr Brumby said the number of first home owners grants paid to Victorians had jumped 4.99 per cent compared to the previous month and 74 per cent compared to this time last year, despite the impact of the Global Financial Crisis.

Ms Macklin, welcomed today's figures: "The First Home Owners Boost, combined with lower interest rates, has brought tens of thousands of first home buyers into the Australian market. Activity in the housing sector means more local jobs for builders and tradespeople right across the country."

23 July, 2009