A New Year - A new outlook for housing in the NT

As we reflect on the close of 2024, the housing construction industry in the Northern Territory is embracing 2025 with a sense of optimism and renewed energy, despite the challenges of the past year.

A major shift in the NT’s political landscape occurred as the Country Liberal Party (CLP) secured a decisive majority over the Labor Party. This change reflects the electorate's demand for action on critical issues such as rising crime, anti-social behavior, and economic stagnation, with the NT currently ranking last among Australian jurisdictions in economic performance.

HIA has been actively engaging with the new government to emphasize the importance of housing development as a driver of economic growth over the next 5 to 10 years. Meeting the federal government’s ambitious goal of constructing 1.2 million homes nationwide within five years will require close collaboration between the NT’s public and private sectors to achieve the territory’s target of 1,100 homes annually.

Attracting services, infrastructure, and investment is key to boosting the NT’s population and economy. Federal investment in bolstering the defence force presence in the Top End has already begun to draw personnel and their families to the region, complemented by partnerships and investments from US forces.

Additionally, the NT government is pursuing opportunities in fossil fuels, including gas mining, rare earth extraction, and solar farm development. A centerpiece of their efforts is the introduction of a $50,000 First Home Owner Grant—the most generous in the country—providing a powerful incentive for those looking to buy or build a new home. Additional support includes the HomeGrown Territory grant for purchasing established homes and the FreshStart New Home Grant of $30,000.

These initiatives have been met with strong interest during the government’s initial months, creating a positive outlook for builders in 2025. However, the long-term impact of these measures will depend on sustained delivery of pre-election commitments, including addressing crime, promoting the NT as an attractive destination for young families, and driving economic growth.

HIA will continue to monitor progress on these fronts while working to ensure the industry avoids unnecessary hurdles, such as delays in housing approvals or unwarranted changes to the National Construction Code. With the ambitious national housing target looming, it is critical for governments to provide additional incentives for employers and school leavers to join the industry, helping to build a skilled workforce capable of meeting demand and delivering the homes Australians need.