‘Prosperity and security’: Labor offers election sweetener for first-home buyers
Premier Ben Carroll will announce 25,000 new homes will be built for first-time buyers, with the proposed sites spanning Melbourne, Geelong, Ballarat, Bendigo and Latrobe.
The scheme is similar to a South Australian program announced in the lead-up to their state election earlier this year, when 7000 of 17,000 new homes built in partnership between the state and federal governments were set aside for first home buyers.
Both schemes form part of the federal government’s $10 billion pitch made to young voters locked out of exorbitantly expensive housing markets before the 2025 election.
According to details of the scheme provided to this masthead, a total of 25,691 new homes will be built and offered exclusively to first home buyers between 2027 and 2034. About 15,000 of the properties will be built on sites already owned by the state’s property development agency, Development Victoria and being readied for construction. The remainder will be constructed on land owned by other government agencies.
The proposed urban development sites are spread across Bayside, Brimbank, Darebin, Hume, Maribyrnong, Melton, Merri-bek, Port Phillip and Stonnington. Regionally, Geelong, Ballarat, Bendigo and Latrobe are also earmarked.
