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HIA has been advocating strongly for this program as a much-needed boost to stimulate the home building industry, increase supply of housing, and provide new incentive for home ownership.
HIA welcomes the CLP Government’s prompt action in announcing this program as the first order of business, and the opening of applications starting on Tuesday 1 October.
The HomeGrown Territory program also includes a FreshStart New Home Grant of $30,000 for non-first home buyers who may have already owned a property before, to purchase or build a new home.
The scheme is the first of its kind and will help stimulate new home construction, encourage people to move to the Territory, and increase critically low supply of housing across the Northern Territory.
Importantly for long term growth of the industry, the program will help retain the residential building workforce and encourage growth through new apprenticeship and training opportunities in an invigorated housing market.
“A strong pipeline of new shovel-ready residential land at Mount Peter is fundamental to putting downward pressure on housing prices across the entire region,” said HIA Executive Director North Queensland, Peter Fry.
An increase of the strata building bond from 2 per cent to 3 per cent was due to take effect from 1 July 2025. In a win for the multi-residential construction industry, HIA has been advised that this increase will be deferred for a further 12 months, to 1 July 2026.
HIA and MiTek have joined forces to launch She Builds The Future – a program designed to inspire, educate and promote diversity in the residential building industry.
“Today’s announcement from the Labor Government of $78 million in funding to fast track the qualification of up 6,000 tradies is an important initiative which will help get more homes built quicker,” said HIA Managing Director, Jocelyn Martin.