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Victorian State Budget 2023/24

More homes for Victorians

Every Victorian should have a place to call home.

Aerial photo of Melbourne suburbs

The Victorian Government has invested $1.6 billion in the Victorian Homebuyer Fund (VHF), a shared equity scheme to help 10,000 Victorians into homeownership.

Since its launch, VHF has helped almost 3,500 Victorians buy a home, with a further 1,500 approved to start house‑hunting.

More than two‑thirds of participants are first home buyers and half are women. The VHF has also partnered with Aboriginal Housing Victoria to improve housing outcomes for Aboriginal Victorians.

We’re getting on with our $5.3 billion Big Housing Build, to deliver over 12,000 new homes for Victorians, including a target of $1.25 billion to be spent across regional areas.

In this Budget we’re investing:

  • $68 million to deliver a Housing First response including housing and support services for those rough sleeping and experiencing homelessness, to help get their lives on track.
  • $33 million to support around 225 young people with complex needs leaving residential care and other settings. Young people will be supported towards independence with multidisciplinary support and access to housing.
  • $9.1 million for the Pathways to Home program to help people with disability make the transition out of hospital beds and into home‑like settings equipped to meet their needs. This will free up hospital beds to treat additional patients.

This Budget includes $100 million for two initiatives focused on avoiding homelessness, with early intervention expected to generate more than $180 million in economic and fiscal benefits over the next decade.

We’re also expanding tax concessions to support families to provide homes to relatives with severe disability and we’re making land transfer duty exemptions fairer for pensioners and concession card holders.

Reviewed 19 May 2023


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