As well as assisting first home buyers, we also manage other schemes to help Victorians buy or build their own homes.
Concessions for home buyers
Pensioner exemptions and concessions
This year, 4,720 pensioners accessed exemptions and concessions available to them to buy their own homes, totalling $87.1 million in savings.
Principal place of residence concessions
The principal place of residence (PPR) concession is available to people who buy a property valued up to $550,000 and move into their home within 12 months of settlement.
In 2025–26, 32,707 PPR concessions were granted, saving home buyers a total of $82.1 million.
Table 9: Principal place of residence concessions
| PPR concessions | Number | Value ($M) |
|---|---|---|
| Metropolitan Melbourne | 19,295 | 51.2 |
| Regional Victoria | 13,412 | 30.9 |
| Total | 32,707 | 82.1 |
Victorian Homebuyer Fund
The Victorian Homebuyer Fund (VHF) closed to new applications in September 2025, after helping 25,074 single or multi-person households buy a home since it was launched in October 2021.
Since launch, there have been 17,541 settled properties resulting in $2,654,992,219.40 total shared equity held by the Government.
The VHF was a shared equity scheme which made it easier for Victorians to achieve home ownership. It allowed eligible participants to work with a lender to buy a house sooner without the burden of saving a large deposit.
If you had a 5% deposit, the Victorian Government could contribute up to 25% of the purchase price in exchange for an equivalent share in the property, reducing the mortgage and removing the need for Lenders Mortgage Insurance.
Aboriginal and Torres Strait Islander participants only required a 3.5% deposit and were eligible for a 35% shared equity contribution. Since the Victorian Homebuyer Fund started, 114 Aboriginal and Torres Strait Islander applicants joined the scheme, and 84 settled properties are owned by Aboriginal and Torres Strait Islander peoples.
If you’re already participating in the fund, your agreement remains in place. There are a range of ongoing obligations you are required to continue to fulfil, including an annual review.
In 2025–26:
- there were 673 successful applications and 524 settled properties with total shared equity of $108,252,468.51
- we processed 96% of applications within 5 days
- the median purchase price was $618,000
- 40% of participants were aged 25 to 34
- single participants made up 57% of purchases, while multi-person households (mainly couples) made up 43%
- 91% of settled properties were in metropolitan Melbourne and Geelong, while 9% were in regional Victoria
- the top metro locations were Tarneit/Truganina, Cranbourne, Brunswick, Pakenham and Melbourne
- the top regional locations were Ballarat, Bendigo, Shepparton, Hume and North-West Victoria
- there was a net realised gain of $8,489,057.79.
