On Saturday at the Northern Territory election, the Territory Labor party (lead by Michael Gunner) defeated, or rather smashed, all opposition, including the Country Liberal party.
Michael Gunner has promised a new first home buyer scheme to assist those first home buyers in the Northern Territory looking to purchase an established home. Measures he has promised include:
- No stamp duty on established homes up to $500,000 (purchase value)
- Stamp duty concessions on established homes between $500,000 & $650,000 (purchase value)
- A $10 000 Grant for first home buyers of existing properties for renovations, including $2000 of these funds available for purchase of household goods.
Labor plan to make this scheme run for two years, commencing the 1st of September this year. We will keep you posted on the details, but to see the announcement by Labor please click here.
Get your NT FHOG Guide below:
Not from the Northern Territory?
You can find your State’s First Home Owners Grant & Government Incentives Guide here.
Disclaimer: FHBA recommends you should with a licensed professional about your circumstances to determine whether you meet the eligibility criteria for any Government assistance. FHBA does not recommend you make any financial, property or investment decision based solely on Government assistance.