For many Victorians, being able to own a home close to work, school and the services they need is out of reach. At Development Victoria, we're in a position to help.
We make home ownership possible for more Victorians, with our range of affordable and high-quality homes catering for different budgets, lifestyles and people.
We aim to offer at least a quarter of the homes we build to households that earn less than $132,030 per year, giving more people the opportunity to live where they want to be – at prices they can afford.
How does it work?
Eligible buyers will have a 7 day Priority Access period during which they can make a purchase, before homes are made available to the general public.
Am I eligible for Priority Access?
Our Priority Access offer is open to you if you meet all the following criteria:
- your household annual gross income is less than:
- Single $62,860
- Couple $94,300
- Family $132,030
- You intend to live in your new home as principal place of residence
- At least one of the purchasers is an Australian resident
How much deposit do I need?
To purchase a home at Olio you will require a 5% deposit on the land component and 5% deposit on the build component of the property.
It would be a good idea to get lending approval from your bank or financial institution to make sure you have enough of a deposit and can service your loan, before applying for priority access to our affordable homes offers.
How do I apply?
To apply for Priority Access at Olio:
- Check that you meet all the above criteria and visit the Development Victoria website to complete online registration of interest.
- Once you've successfully registered, you will receive an email invitation to make appointment with a member of our team at the Olio Sales Office or online. You will need bring along the following documents to the appointment, so they can be reviewed confirm your eligibility:
- Australian Taxation Office notice of assessment for the prior year for each purchaser, to verify gross annual household income
- Passport or birth certificate to verify that at least one of the purchasers is an Australian citizen or permanent resident
- Completed statutory declaration (a copy of this will be included in the email).
- If you confirm your eligibility ahead of the exclusivity period, will be entitled to select and purchase preferred home as soon period starts.
- If you confirm your eligibility during the exclusivity period, will be given immediate approval to purchase.
- If you need to make a later appointment at the Sales Office during exclusivity period, will be able select from any remaining available homes when visit.