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“Super-charging the first home owner’s grant and boosting funding for ongoing homeownership was a key priority for HIA at the 2024 election and it is positive to see Government delivering on this promise.
“Access to secure, affordable housing in the NT is an ongoing challenge for families and first homeowners and these grants serve to address the rising cost of housing in the top end.
“The HomeGrown Territory grants are an important initiative by the NT Government which will bolster home building activity, supporting local building, trade and supply businesses after several challenging years,” added Mr Espinoza.
“In addition to the HomeGrown Territory grants, HIA calls on Government to ensure it is removing all barriers to home ownership, including cutting red tape and taxation on housing, supporting skills and workforce development, as well as addressing known challenges with the Fidelity Fund NT.
“These and other forms of housing incentive programs are critical to boost housing supply and home ownership rates to support first home buyers, as well as existing homeowners, to build a life in NT.
“HIA will continue to support and advocate for policies that assist more prospective homeowners into housing and help them achieve their home ownership aspirations,” concluded Mr Espinoza.
“Home building materials have continued to experience only modest cost increases, up by 1.6 per cent in the 2024/25 financial year,” stated HIA Senior Economist, Maurice Tapang.
“Today’s interim report from the Productivity Commission overwhelmingly backs what HIA has long been saying - that the regulatory burden on businesses is getting worse in this country and there is need for a major overhaul on the approach to regulation,” said HIA Managing Director, Jocelyn Martin.
“The Housing Industry Association (HIA) welcomes the release of the Queensland Productivity Commission’s interim report into construction productivity It is a significant and necessary step toward overcoming the housing supply challenges facing Queensland,” said Michael Roberts, HIA Executive Director Queensland.
“New home building approvals in the 2024/25 financial year were up by 13.9 per cent compared to their 2023/24 trough,” stated HIA Senior Economist Tom Devitt.