The Northern Territory will struggle with population growth if the cost of living continues to climb. Access to affordable housing remains out of reach for majority of Territorians or those looking to move here.
To get more people into housing and in particular first home buyers, the future Northern Territory Government should look at a range of subsidies and grants to support aspiring homeowners to fulfil the dream of one day owning their own home.
This would also stimulate the industry and increase the supply of much needed housing across the Northern Territory.
The Opposition’s pre-election promise of a substantial boost to the current first home buyer grant from $10,000 to $50,000 would be a first of its kind and a game changer for the Territory and aspiring homeowners.
Stimulating the home building industry will be a major step towards making the Northern Territory a $40-billion economy by 2030.
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