NT extends incentives for buying a brand-new home

Launched in October 2024, the HomeGrown Territory and FreshStart New Home grants encourage existing homeowners and first-home buyers to either build a new home or buy new.  

The HomeGrown Territory grant offers $50,000 to first-home buyers while the FreshStart New Home grant offers $30,000 to existing homeowners, if they buy or build a new home.  

Initially these schemes were set to expire on 30 September 2025. Now, the Northern Territory government has extended the grants by 12 months until 30 September 2026. Both grants are also available to owner-builders and for off-the-plan properties.  

The NT government says more than $7.2 million grants have been paid out to 479 recipients since its start with 55 receiving the $50,000 grant and 11 receiving $30,000.

There is also a $10,000 grant for buying an established home, which saw 399 applicants receive, but this will cease as planned on 30 September 2025.

A further 118 applications have been approved and are waiting to be paid. 

NT treasurer Bill Yan said the extension could stimulate home building in the territory.  

The Northern Territory Government has extended the HomeGrown and FreshStart grants for another 12 months. Picture: Getty

"Building approvals are up 48.6% over the year to March, the second strongest growth in the nation, and much of that can be attributed to the success of these grants,” he said. 

“We expect to see this flow through to construction activity in the coming months." 

Master Builders NT was pleased about the extension with president Neil Sunners noting its wider impact on supporting the construction sector.  

“Master Builders NT welcomes the extension of the homebuilder grants that will further encourage new home builds and provide a wider impact in relation to supporting local builders, providing local jobs and more broadly population growth,” he said. 

The Housing Industry Association (HIA) also lauded the news and acknowledged the ongoing challenge of affordable housing.  

“Access to secure, affordable housing in the NT is an ongoing challenge for families and first homeowners and these grants serve to address the rising cost of housing in the top end,” HIA executive director Luis Espinoza said.  

“The HomeGrown Territory grants are an important initiative by the NT government which will bolster home building activity, supporting local building, trade and supply businesses after several challenging years.”  

Mr Espinoza also called on the government to work towards removing further barriers to home ownership.  

“In addition to the HomeGrown Territory grants, HIA calls on Government to ensure it is removing all barriers to home ownership, including cutting red tape and taxation on housing, supporting skills and workforce development, as well as addressing known challenges with the Fidelity Fund NT,” he said.  

“These and other forms of housing incentive programs are critical to boost housing supply and home ownership rates to support first home buyers, as well as existing homeowners, to build a life in NT.”  

This article first appeared on realestate.com.au and has been republished with permission.