Victorian Property Fund grants

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How to apply for a Victorian Property Fund grant

To apply for a Victorian Property Fund grant:

Victorian Property Fund Grants
Consumer Affairs Victoria
GPO Box 123Melbourne VIC 3001

If you do not have access to a computer and printer, you can order copies of the documents by calling us on 03 8684 6408.

About Victorian Property Fund grants

The Victorian Property Fund (VPF) is a trust fund established under the Estate Agents Act 1980 and administered by Consumer Affairs Victoria. Income for the fund comes from:

  • licence fees and fines paid by estate agents and conveyancers
  • interest on trust accounts of licensed estate agents and conveyancers
  • investment income.

We administer grants and compensation claims from the VPF. For information on compensation claims, view our Compensation claims – property page.

Grants from the VPF can be awarded for various property-related purposes listed under section 76(3) of the Estate Agents Act 1980. These include:

  • community education, advice or information services
  • programs promoting ownership of real estate
  • training estate agents and agents' representatives
  • dispute resolution and advocacy services
  • reviewing, reforming or researching real estate law
  • reviewing and researching the real estate market
  • housing assistance for low income or disadvantaged Victorians
  • developing environmentally sustainable housing
  • protecting Victoria's natural and architectural heritage.

The VPF grants program has a limited budget. Some funding areas are more favoured than others and in practice, not all the above purposes are regularly funded. For example, projects that develop more affordable housing for low income and disadvantaged Victorians are preferred over research projects or programs that promote ownership of property.

How are grants awarded?

The Minister for Consumer Affairs awards grants from the Victorian Property Fund after consulting with:

  • Consumer Affairs Victoria
  • the Estate Agents Council. For more information about the council, view our Estate Agents Council page
  • relevant industry associations, government departments and other bodies.

Consumer Affairs Victoria's recommendations are based on:

  • the project's eligibility under section 76(3) of the Estate Agents Act 1980
  • the extent to which the project will contribute to desired government outcomes and benefit the community
  • whether the project provides a value-for-money use of the fund, including cost effectiveness and whether other funding sources are available
  • whether the project can be evaluated against agreed performance indicators
  • whether the application clearly establishes that there are demonstrated and substantial project outputs
  • whether the applicant satisfactorily demonstrates that the proposal is feasible and that they have the capacity to deliver the outputs
  • the applicant's record of achievement as a provider of relevant services or products
  • the budgetary limits on the total funds available.

How long does it take to award grants?

This depends on the amount of funding sought and the complexity of the proposal. In most cases, a simple proposal for a grant of less than $100,000 will take about three months. A larger and more complex application can take six months or longer.

You will need to apply for your grant in time to allow for this. Your application cannot be considered if your program or project is due to start before assessment is complete.

Who can apply for a Victorian Property Fund grant?

Anybody can apply. Past grant recipients include government departments and agencies, and not-for-profit community organisations.

Grants of$20,000 (GST exclusive) or more to organisations can only be made to incorporated bodies and government and semi-government bodies.

Current priority areas - Victorian Property Fund grants

The Victorian Property Fund discretionary grants budget for 2015-16 is $22 million (excluding GST). Please note that most of this funding is now allocated to grants in progress or earmarked for favoured proposals.

Organisations seeking funding are invited to contact us on 03 8684 6408 to discuss the nature of your proposal and current Victorian Property Fund priorities before preparing an application.

The anticipated funding allocation by eligible grant purpose for 2015-16 is set out in the following table. Funding levels for each purpose depend on the results of individual applications.

Subsection of Estate Agents Act 1980

Funding purpose

Budgeted funding allocation for 2015-16 ($ millions)

Proportion currently allocated

S.76(3)(a)

Community education, advice or information services

Nil

-

S.76(3)(b)

Programs that promote the ownership of real estate

Nil

-

S.76(3)(c)

Training of estate agents and agents' representatives

0.3

100%

S.76(3)(d)

Dispute resolution and advocacy services

Nil

-

S.76(3)(e)

Reviewing, reforming or researching the law and procedures or reviewing and researching the markets for real estate

Nil

-

S.76(3)(f)

Projects facilitating the registration of interests in land or the compilation of other information relating to the ownership or use of land

Nil

-

S.76(3)(g)

Housing assistance for low income or disadvantaged Victorians

21.7 (To be confirmed)

90%

S.76(3)(h)(i)

Development of environmentally sustainable housing

Nil

-

S.76(3)(h)(ii)

Protection of natural and architectural heritage

Nil

-

Previous grant recipients

Note: Value is reported exclusive of GST as representing the net cost to the Fund.

Grants approved in 2014-15

Grant recipient

Value approved (excl. GST)

Description of funded program

Common Equity Housing Ltd

$2,700,000

Acquisition of units at Harmony Village

Community Housing (Vic) Ltd

$550,000

Manningham affordable housing

Victorian Women's Housing Association

$1,618,000

Coburg affordable housing for low income women

Director of Housing

$15,000,000

Urgent maintenance and upgrades public housing 2014-17

Real Estate Institute of Victoria

$535,726

Professional development 2014-17

Australian Livestock and Property Agents Association

$183,945

Professional development and education 2014-17

Housing Choices Australia

$1,350,000

Veterans' accommodation 2014-15

Total

$22,022,671


Grants approved in 2013-14

Grant recipient

Value approved (excl. GST)

Description of funded program

Kids Under Cover

$2,598,464

Prevention of Youth Homelessness 2014-17

Loddon Mallee Housing Services Ltd (trading as Haven; Home Safe)

$4,000,000

Sidney Myer Affordable Housing

Common Equity Housing Ltd

$3,900,000

St Mary's Terrace Geelong Affordable Housing

Wintringham Housing

$4,615,000

Flemington Housing for the Elderly

Total

$15,113,464


Grants approved in 2012-13

Grant recipient

Value approved (excl. GST)

Description of funded program

Director of Housing

$18,082,000

Accommodation Options for Families 2013-14 to 2016-17

Rural Housing Network

$1,000,000

Mooroopna West Affordable Housing

Housing Choices Australia

$550,000

Affordable & Disability Housing 2013-14

Victorian Women's Housing Association (trading as Women's Property Services)

$600,000

Social Housing for Women in Cheltenham

Heritage Victoria

$1,500,000

Repair and Conservation of Victoria's Architectural Heritage 2012-13 to 2014-15

Department of Primary Industries

$755,454

Electricity Safety Assistance Scheme

Total

$22,487,454


Grants approved in 2011-12

Grant recipient

Value approved (excl. GST)

Description of funded program

Housing Choices Australia

$1,506,060

Mixed Equity 2012-13

Housing Choices Australia

$1,450,000

Affordable and Disability Housing 2012-13

Loddon Mallee Housing Services

$2,092,000

Lilydale Affordable Housing

Real Estate Institute of Victoria

$577,053

Professional Development 2011-2014

Australian Livestock and Property Agents Association

$200,908

Professional Development and Education 2011-2014

Department of Human Services

$2,109,890

Home Renovation Service 2011-2013

Kids Under Cover

$2,223,871

Studio Program 2011-2014

Consumer Action Law Centre

$685,931

MoneyHelp Financial Counselling 2011-2012

Total

$10,845,713


Last updated: 15/08/2016

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