NT expands incentives for buying brand new homes

Two popular grants in the Northern Territory have been extended by thousands.

The native territory and Freshstart New Home Grants were launched in October 2024 to encourage existing homeowners and first-time home buyers to build new homes or buy new homes.

The local territory grant offers $50,000 to the first home buyer, while the Freshstart New Home Grant offers $30,000 to the existing home if it purchases or builds a new home.

Initially, these plans will expire on September 30, 2025. Now, the Northern Territory government has extended the grant to 12 months to September 30, 2026. Owner builders and property on site are also available.

The Northern Government said that more than $7.2 million in grants have been paid to 479 recipients since 55 received $50,000 in grants and $30,000 in $11.

There is also a grant for the purchase of established homes of $10,000, which received 399 applicants, but this will be stopped as planned on September 30, 2025.

Another 118 applications have been approved and are awaiting compensation.

The New York government has extended local and fresh grants by 12 months. Image: Getty

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New Testament Treasurer Bill Yan said the expansion could stimulate the construction of houses in the territory.

“Building approvals increased by 48.6% from March, the second strongest growth in the U.S., most of which can be attributed to the success of these grants,” he said.

“We hope to see this flow to construction activity in the next few months.”

NT Master Builders is happy with the extension, and Neil Sunners points out that it has a greater impact on supporting the construction industry.

“Master Builder NT welcomes extended home builders grants, which will further encourage new home construction and have a greater impact in supporting local builders, providing local jobs and wider population growth,” he said.

The Housing Industry Association (HIA) also praised the news and acknowledged the ongoing challenges of affordable housing.

“Getting safe, affordable housing in the New Testament City is an ongoing challenge and an ongoing challenge for families and first homeowners, and these grants help address the rising cost of housing at the highest end,” said Luis Espinoza, executive director of HIA.

“Indigenous territory grants are an important initiative of the New Testament government that will strengthen housing construction activities and support local construction, trade and supply businesses in a few challenging years.”

Mr Espinoza also called on the government to work to remove further obstacles to home ownership.

“In addition to indigenous territorial grants, the HIA called on the government to ensure it removes barriers to all home ownership, including cutting down on traditional tape and taxes on housing, supporting skills and workforce development, and addressing known challenges to the Fidelity Fund NT,” he said.

“These and other forms of housing incentive programs are crucial to improving housing supply and home ownership rates to support the first home buyers and existing homeowners to live in the New Testament.”

Are you interested in buying or building a new one? Check out our New home part.