Territory Government adds to first-home grant

Posted on 30/10/2008  

People who don’t qualify for the newly-expanded First Home Owners Grant will be given a $14,000 incentive to build a home in Darwin.

The Northern Territory Government has announced the Buildstart scheme which provides a grant to those to buy or build a new home before July next year. Construction must start within six months of signing up for the grant.

The $14,000 bonus is available to those who don’t qualify for FHOG and is capped at $700,000 to build a home and $1 million to buy one.

The NT Government has been moved to act because of Darwin’s shortage of rental properties, which has pushed rents so high that Darwin is now more expensive than Sydney for residential tenants. It hopes the scheme will add 400 rental properties to the market within two years.

ENDS

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