Territory Stories

Mrs Lambley to Treasurer 26 August 2015 How many first home owners have received grants in Alice Springs? Answer received 27 August 2015

Details:

Title

Mrs Lambley to Treasurer 26 August 2015 How many first home owners have received grants in Alice Springs? Answer received 27 August 2015

Other title

Tabled paper 1442

Collection

Tabled Papers for 12th Assembly 2012 - 2016; Tabled Papers; ParliamentNT

Date

2015-08-27

Description

Tabled by David Tollner

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C00830

Parent handle

https://hdl.handle.net/10070/274112

Citation address

https://hdl.handle.net/10070/425682

Page content

This followed clear evidence that such grants only increase the prices of established homes and exacerbate any imbalance between demand and supply for housing. The Government intended, through the removal of the first home owner grant for established homes, in conjunction with land release, to decrease the demand-fuelled effect on housing prices. This strategy is currently working. Reduced housing prices, along with current low interest rates, is likely to result in increased activity in the market. First home buyers are now more likely to be able to afford entry level established homes without the need for Government assistance. In addition, the refocusing of the grant has encouraged construction in Alice Springs (with five grants for 5 new homes paid this year, compared to 1 in the same period last year). The Territory's remaining $26,000 grant for new homes is easily the most generous in the country. Tasmania's $20,000 grant is due to be reduced to $10,000 at the end of the year. Other jurisdictions fund grants for new homes of between $10,000 and $15,000. This Government believes in home ownership and has done more to support it in three years than the Opposition did in more than a decade in office.


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