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Northern Territory sees increas...

Northern Territory sees increase in first home buyers

More new buyers have been taking out First Home Owner Grants in the Northern Territory.

There has been an increase in the number of first home buyers seen in the Northern Territory of Australia.

 

 

 

Treasurer Robyn Lamley said that there had been an increase in the number of First Home Owner Grants taken out since changes had been made to the scheme.

 

 

 

It was hoped that people wanting to enter the Australian property market, which is known to have high house prices despite the cost of living when compared to other developed countries, would be encouraged to do so with the help of government funded grants.

 

 

 

Previously, these grants totalled at $7000 but have since increased to $25,000 for first home buyers seeking to buy a recently built home or to build their own home.

 

 

 

The Northern Territory has been reported to have a strong property and construction sector according to recent reports from the Property Council of Australia, rating property and construction sector business confidence on their index well above the average for Australia.

 

 

 

Posted by Steve Douglas

 

 

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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