The government in the Northern Territory has announced that it will be increasing its spend on housing.
In the Budget, Treasurer David Tollner outlined a number of austerity measures but said that initiatives will be increased on housing within the area.
An increase of about $12 million will be added to the spend on housing.
There will be $25,000 grants made available for first-time homebuyers to get a home or land on which they can build a property. This will only be available in the more remote parts of the area. In Palmerston, Darwin and the city's fringe, first homebuyers will be able to get grants of $12,000.
This is in spite of the fact that the government is making cuts to other areas such as education.
Meanwhile, the Northern Territory's economy is expected to grow to a peak rate of seven per cent this year. This rate will be aided by predicted increases in the construction sector, including residential building.
Posted by Steve Douglas