No low deposits for locals

NOT APPLICABLE: Two per cent home loans will not be available to first home buyers wanting to build in the Limestone Coast. Picture: File

Those wanting to build a new house in the Limestone Coast will miss out on a new state government initiative for first home buyers.

Treasurer Stephen Mullighan announced a new two per cent deposit scheme would be available to help people enter the property market.

However, the scheme is only available with 11 partnered builders through their home and land packages, none of which are in the South East.