A NEW $1 billion Regional Housing Fund forecast to deliver more than 1300 new homes across regional Victoria during a period of price stability has been cautiously welcomed by Master Builders Victoria (MBV).

A report from the Real Estate Institute of Victoria (REIV) showed in the last quarter that house prices rose 0.6 per cent to $604,500 (from $601,000) while unit medians declined 2.6 per cent, to $411,500 (from $422,500).