Arafura Finance Brokers

The government announces a new home ownership package which will make the NT’s home ownership incentives the most generous and broadest in Australia.
The Territory Home Owner Bonus will create local construction jobs, build our population and support first home owners by increasing eligibility for people to own their own home in the Northern Territory.

Jump straight to the details

Commencing today, the package delivers increased incentives for anyone building or buying a new home in the NT, while keeping generous incentives for first home owners and others purchasing an established home.
The suite of measures aims to retain current Territorians, while also growing our population through attractive incentives for those wishing to move to the NT.

Key aspects of the package include:

Up to $50,601 for a first home owner building or buying a new home to live in, and up to $28,601 to buy an established home

A $12 million BuildBonus which will see the first 600 people to build a new NT home to live in (including Territorians who currently own a home) receive a generous construction grant between $20 000 to $30,000

A Territory Home Owner Discount up to $18, 601 stamp duty concession for people buying or building a new or established home that they will live in, who haven’t owned a home in the NT for at least 24 months. This includes:

First home buyers
People moving from interstate
Former Territorians returning to live in the NT
Territorians that are currently renting, but used to own a home
Recent divorcees (24 month requirement waived).

Significantly, the $2000 bonus for white goods (building a new home) and $10,000 renovation bonus (for first home owners buying an established home) will remain to support retailers and tradies.

http://newsroom.nt.gov.au/mediaRelease/28668

Here are the details:

First timers entering the market and wanting to build or buy a brand new never lived in home

$30,000 BuildBonus
$2,000 household good grant
Up to $18,601 stamp duty concession
Assistance will depend on amount of stamp duty concession - range expected to be $38 000 to $50,601

First timers entering the market and wanting to buy an established home

Up to $18 601 stamp duty concession
$10,000 renovation grant
$28,601- note new stamp duty concession now reflects median house stamp duty payment.

Territory home buyer - new home
Did not own NT home in previous 24 months, including people moving to the Territory, and are wanting to build or buy a brand new never lived in home
NOTE: 24 month period is waived for people seeking to purchase after a divorce.

Up to $18,601 stamp duty concession
$20,000 BuildBonus
Assistance will depend on amount of stamp duty concession - range expected to be $28,000 (approx.) to $38,601

Territory home buyer – established home

Did not own NT home in previous 24 months, i.e. someone who sold a Territory home, who is now renting and wants to get back into the market or lives interstate and wants to return to live in the NT
NOTE: 24 month period is waived for divorcees

Up to $18 601 stamp duty concession

Current Territory home owner – new home

Someone who owns a home but wants to build and move into a new one

$20 000 BuildBonus

Senior, pensioner and carer and concession scheme

$10 000 stamp duty concession

For more information on a Darwin home loan from a Darwin mortgage broker call Nick Kirlew Mortgage Broker today on 0447 499 794. You can access our Mortgage Calculators here.