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Owning your own piece of NT paradise.



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M e d i a R e l e a s e

THE HON. WARREN SNOWDON MP Federal Member for Lingiari

15th October 2008

OWNING YOUR OWN PIECE OF NT PARADISE

First home buyers in the Northern Territory are now eligible for a First Home Owners Boost of up to $21,000.

Under the Rudd Government’s Economic Security Strategy, the First Home Owners Boost will entitle first home buyers purchasing an established home to a grant of $14,000 and for those purchasing a newly constructed home a grant of $21,000.

“Housing, both availability and affordability, is a problem across the Territory,” said the member for Lingiari, the Hon. Warren Snowdon MP.

“And while this is not the answer alone, for people trying to get into the tight and expensive Territory housing market, or dreaming of building a new home, this grant will be enormously helpful.

“The Rudd Government commitment doubles the existing funds available to first home buyers purchasing an established home, and triples it for those purchasing a newly constructed home.

“And first home buyers will be eligible for the First Home Owners Boost straight away,” Mr Snowdon said.

All contracts entered into by 30 June, 2009 will be eligible for this new additional assistance.

“This is great news for first home buyers and great news for boosting housing activity in the NT to meet the demand,” said Mr Snowdon.

“The Rudd Government is making sure our economy emerges in strong shape from these tough international times so that we can provide quality jobs and security for working families into the future.

“This includes our young people, who will receive an important boost from this initiative,” Mr Snowdon said today.

Media Contact: Kate Sieper 0488 484 689