ABOUT a third of the $38,800 grants for the Viewpoint Huntly Estate are expected to be taken up by the time next month’s ballot is held.
One hundred government grants are available and so far 28 applicants have been approved.
But those behind the project said the shortfall in applicants did not represent a lack of interest in the new estate.
Luke Goggin Real Estate director Tom Isaacs said securing finance was a cause for concern for many would-be buyers and said the rules behind the grants had changed.
“From an owner’s point of view, they were restricted to stay in the property for five years, now it’s come back to a two year period which is fantastic; one, from a capacity to borrow, and two from an owner-occupier’s point of view,” he said.
“It gives them certainty to know if they need to go in two or three years due to family or work, they can go without any reduction in fees.”
City of Greater Bendigo planning and development director Prue Mansfield said some issues around lending had been raised.
“This is the first time this program has been rolled out… there have been some issues that we haven’t thought about,” she said.
She said because the land would be released in stages it was hard for lenders to approve applications so far in advance.
While 30 to 35 grants were expected to be drawn by ballot, the remaining grants would be rolled out over the following six to nine months, Ms Mansfield said.
She added that land had been set aside and zoned for a train station and other developments, like supermarkets.
“We’re very pleased with the level of interest and we’re assured by the sales advice that’s happening for the whole of the Viewpoint Huntly Estate,” she said.
“We think this is an exciting new chapter for our city.”
This story Administrator ready to work first appeared on Nanjing Night Net.