Victorian State Has Provided $1.1 Billion to Help Residents Buy a Home

The Victorian state runs a shared equity scheme with homeowners, paying up to 25 percent of the purchase price of a home.

A billboard advertises a home for sale in Melbourne on September 6, 2022 as Australia's Reserve Bank lifted interest rates to 2.35 per cent, the highest levels seen since December 2014, in an attempt to cool the country's overheated economy. (Photo by William WEST / AFP) Photo by WILLIAM WEST/AFP via Getty Images

The Victorian state government’s Homebuyer Fund, launched around two years ago, has supported more than 7,300 families to secure a home, of that number, two-thirds have been first-home buyers.

To date, the Fund has provided $1.1 billion in shared equity contributions.