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The Country Liberal Party (CLP) announced its HomeGrown Territory Program as part of its reply to the Labor Government Budget delivered this week. This forms part of the Opposition’s election promise to kickstart home building in the Territory.
“There are incentives put forward as part of the proposed program for new home building for both first-home buyers and non-first home buyers alike,” added Mr Espinoza.
“The HomeGrown Territory Grant is aimed at first home builders who will receive a $50,000 grant with no cap on build price. Non-first home buyers looking to build will also receive a grant of $30,000 under the FreshStart NewHome program.
“These home building incentives are welcome measures that will bring more people into home ownership as well as increase the Territory’s housing supply.
“First home buyers of existing dwellings will also receive a $10,000 grant with no cap on purchase price.
“The high cost of housing driven by a supply-demand imbalance reduces the opportunity for many households, particularly those buying their first home, to transition to home ownership.
“These much needed incentives will be crucial to both individual households as well as growing the Northern Territory’s population and economy.
“Housing is intrinsically tied to population and economic growth and vice-versa. Kickstarting the Northern Territory’s economy will require attracting more people and supplying adequate housing.
“In the lead up to the NT election this year HIA will be calling on an incoming Government to have a key agenda that supports the delivery of new housing and renovations and maintaining and growing a skilled workforce for the Territory,” concluded Mr Espinoza.
“The RBA decision to keep interest rates in restrictive territory today will not stop the improvement in leading indicators of future home building,” stated HIA Senior Economist Tom Devitt.
In mid-June 2025, the NSW Premier released the Housing and Productivity Contribution (HPC) Works-in-Kind Guideline for public consultation.
Today the State Government announced proposed changes to the regulatory powers to investigate registered builders who may be unable to meet the financial requirements of registration. The announcement also included a long-awaited review of the Home Building Contracts Act 1991 (HBCA) and associated laws.
Housing Industry Association welcomes today’s announcement by the Cook Labor Government to review key aspects of the home building contracts legislation and provide the building regulator with additional powers to work with builders in distress.