Australian Property News

Northern Territory’s First Home Owner Grant in hot demand

Posted on Friday, February 15 2013 at 3:39 PM

More homebuyers are taking advantage of the Northern Territory’s First Home Owner Scheme, according to Northern Territory’s Treasurer Robyn Lambley.

She says since the First Home Owner Grant increased in December from $7000 to $25,000 for first homebuyers purchasing newly constructed homes, and up to $12,000 for existing property in Darwin, more first homebuyers have been jumping into the property market.

“Last month, 107 grants were paid, up from 84 the previous month, with 45 issued in Darwin, 34 in Palmerston and the rural area, 18 in Alice Springs and 10 in Katherine,” she says.

“The government’s reconfigured housing package reduced red tape by streamlining assistance into a single grant with one application form.

“The grant is more flexible than stamp duty assistance as it can be used at the discretion of the first homebuyer.”