More than $200m injected into NT economy thanks to HomeBuilder

 More than $200m injected into NT economy thanks to HomeBuilder

Hundreds of Territorians are lapping up the state’s HomeBuilder grant with more than $200 million pumped into the Northern Territory economy as a result of the popular scheme.

The BuildBonus program has seen $11 million in grants dished out to home-builders and has helped keep thousands of tradies in work during the pandemic.

More than 720 applications for the BuildBonus grant have been received since its introduction last March, with a rise in figures towards the back end of 2020 as more and more Territorians look to build the home of their dreams.

Territory Labor Government Chief Minister Michael Gunner said the knock-on effect of the program has been incredible and that he’s delighted to see the NT property market flourishing.

“This grant has helped so many Territorians build their nest and make a break into the real estate market. People are choosing to stay longer in the Territory, and more people are moving and choosing to call it home,” he says.

The Territory’s real estate market is booming for the first time in years, and we want to capitalise on this opportunity and make the Territory the best place to build and own a home

Territory Labor Government Chief Minister Michael Gunner

The program initially allowed eligible home-builders to access a $20,000 grant up until December 31, however that deadline has since been extended until March 31, in line with the federal government’s HomeBuilder extension, though the grant has been reduced to $12,000.

Minister for Infrastructure, Planning and Logistics Eva Lawler says the extension will come as music to the ears of tradies across the state, with more than $220 million in building activity already estimated to have been generated by the BuildBonus scheme.

“The great take-up of the scheme we saw in late 2020 means there will be plenty of work in the pipeline for Territory tradies this year,” she says.

The extension of this grant will also keep jobs flowing in the construction industry, and help more Territorians realise their dream of building and owning their own home

Minister for Infrastructure, Planning and Logistics Eva Lawler

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