Tony De Domenico Executive Director UDIA (VIC)

Executive Director of the UDIA (VIC) Tony De Domenico said, "The property industry in Victoria directly employs around 310,000 full time employees, contributes around 12 per cent of the state's gross domestic product and $4.6 billion in taxes to all tiers of government."

"Whilst we still have population demand as a positive driver of the market, the announcement today by the Victorian Treasurer Michael O'Brien, will add an urgently needed stimulus to the market for new housing and help 'Build a Better Victoria' at a time of an extremely tight Budget for the State."

Mr De Domenico said, "Behind every new home stands the employment of a range of trades people, employment networks of suppliers and ultimately the retail sector with homes requiring white goods, furniture and services."

"The new house and land package market is a major area of economic activity for thousands of small businesses across the State in metropolitan, regional and country areas," Mr De Domenico said.

Media Enquires:
Ron Smith, Corporate Media Communications, UDIA (VIC) - Mobile: 0417 329 201