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More first home buyers than ever before entered the Victoria property market last month, new figures have revealed.
Federal and state government grants drove 4,946 first home buyers into the market in May, according to the Victorian State Revenue Office – the most ever recorded in one month.
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This also represented a 67.5 per cent jump on the number of first home buyer grants taken out on the same month last year.
Victorian treasurer John Lenders said the grants had contributed to 1,352 new homes in May alone, helping to fight the economic downturn.
"Each of these new homes means more jobs for carpenters, electricians, builders, plumbers and other Victorian tradespeople as we fight the impact of the global recession," he said.
