Announced earlier this month, the scheme provides $25 000 to owner-occupiers to build a new home or significantly renovate an existing home, and can be used in conjunction with Victoria's First Home Owners Grant.
Kavant Management director Graham Hofmeyer said the grant had stimulated unprecedented demand for land.
“It has brought affordable housing to a lot of people where new houses were out of reach,” Mr Hofmeyer said.
“There’s been a rush on blocks because the government has put the timeframe for building a new home.”
To qualify, contracts must be signed between June 4 and December 31 this year, with construction commencing within three months of the contract date.
Within the region, there is a limited amount of land set to be titled, and therefore ready to build on by the deadline.
But by accelerating developments, Mr Hofmeyer said both Kialla Lakes Estate and Parkview Estate in Mooroopna would have more blocks available in late November to December.
Peter Mintern, director of Seven Creeks Estate, Sanctuary Park, The Vines and Providence Field, also said there was limited land available.
While stage three of Providence Field had recently been titled, he said there were more options on the horizon with the three other estates anticipating titles around September or October.
Mr Mintern said while much of the land was under offer, some was under option, and potential buyers could put their names down as the second or third option.
“If there is an option on a block, it’s not the be-all and end-all, they haven’t lost the land, if circumstances change the second or the third will step in,” Mr Mintern said.
“In Shepparton this is pretty unheard of and that’s an indication of how people have gravitated to taking advantage of the grant.”
In all his years in the game, Youngs & Co Real Estate director Glenn Young said he had never seen such an uptake in land in such a short amount of time.
Fearing those who had taken time to consider their options may miss out, he hoped the Federal Government would consider extending the grant until early to mid-2021 to further stimulate the economy.
“It would be fantastic to see the government extend it, I hope they do, it would mean a lot to the people in the regional areas,” Mr Young said.
To find out more about the HomeBuilder pick up a copy of the Building & Renovating Catalogue in the Friday, June 25 edition of the News.
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