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Fund for new home buyers to close end of June

News Article Date: 
Friday, 10 March 2017

More than 40 people have bought new homes in Warrnambool with the help of a unique grant available through Warrnambool City Council.

The program, which aims to help Warrnambool residents realise the dream of owning their own home, ends at the end of June 2017.

Applicants wishing to apply for the program must include signed building contracts with their applications. 

When launched in 2013 Council’s North Dennington Housing Affordability Program provided the assistance many people needed to help crack the challenging housing market.

“This initiative, made possible with support from the Australian Government’s Building Better Regional Cities program, really hit the mark in terms of being the final piece of the puzzle for getting people into their own homes,” Manager Economic Development and Investment Shaun Miller said.

“It’s enabled people from a broad demographic range to enter the housing market.

“About 25 per cent of applicants were aged 18 to 24 years, 40 per cent were aged 25 to 34 years, 30 per cent were aged 35 to 44 while five per cent of applicants were older than 44.

“And there was also a relatively even spread of people with or without partners and with or without children.

“And it’s that kind of diverse mix that helps build a neighbourhood and sense of community.”

Along with providing grants of up to $20,000 to eligible applicants the program included the $2.5 million construction in 2014 of Coghlans Rd, a key east-west link to the city’s residential growth areas in North Dennington.

For more information on the housing affordability program including details on eligibility and an application form go  to:

www.warrnambool.vic.gov.au/north-dennington-housing-affordability-program

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