“The change to the Home Guarantee Scheme price cap removes a key barrier preventing Territorians from building their own home,” said Luis Espinoza, HIA Executive Director Northern Territory.

“The old cap simply didn’t match the reality of building costs in the Northern Territory which are higher than most states. That meant many first-home buyers were locked out before they even started.

“This change gives more Territorians a genuine pathway into building their own home instead of being stuck in the rental market.

“HIA had been actively advocating for the increase through discussions with Federal representatives, including Northern Territory Labor MP Luke Gosling, as well as through ongoing engagement with Territory ministers.

“HIA has been raising this issue with governments because we were seeing buyers miss out purely due to the Territory’s higher build costs.

“We appreciate the strong engagement from the Federal Government in recognising that national housing programs need to reflect local market conditions.

Mr Espinoza said policies that help families build new homes play an important role in improving housing supply and affordability outcomes in the Territory.

“When policies help people build, they don’t just support home ownership, they add to supply, support local jobs and keep the industry moving.

“The decision is a major step in ensuring Territorians receive fair access to national housing initiatives. When government programs reflect the real cost of building in the Territory, they work better for buyers, industry and the broader housing market,” concluded Mr Espinoza.

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