“More than 900 Territorians have applied for the scheme and since its launch last year it has helped more than 2,000 Territorians break into the housing market.

“The scheme is a first of its kind in the country, in providing a HomeGrown Territory Grant for first home builders to receive a $50,000 and those looking for a fresh start able to access a $30,000 grant.

“These home building incentives are welcome measures and something HIA strongly advocated for in the lead up to the Territory election and is now pleasing to see this scheme going from strength to strength. 

“These much-needed incentives are crucial to both individual households as well as growing the Northern Territory’s population and economy in getting more people into home ownership sooner.

“Housing is intrinsically tied to economic growth and vice-versa. Kickstarting the Northern Territory’s economy requires measures to attract more people to the Territory as well increasing the supply of adequate and affordable housing.

“By supercharging the building industry through programs, such as HomeGrown and FreshStart, it brings with it key economic opportunities for the Territory including the creation of new and exciting jobs. 

“The scheme is boosting housing supply, driving confidence in the building sector, and underpinning population growth. 

“HIA is strongly advocating for the continuation of the scheme as a permanent fixture, providing certainty to the industry and perspective homeowners and giving more Territorians the chance to live the dream of owning and building their own homes,” concluded Mr Espinoza.

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