Northern Territory government extends $10,000 new home bonus to December 31, 2012

The Northern Territory $10,000 BuildBonus available to home buyers building or purchasing a new home has been extended to the end of this year.

This the second time the NT government has extended the deadline for the handout, which applies to new homes up to a value of $600,000.

It was originally due to end on December 31, 2011, before being extended to June 30 this year.

The NT government also offers first-home owners stamp duty concession of up to $26,730 (the duty owned on the first $540,000 value of a property) and no land tax.

NT Treasurer Delia Lawrie says The Henderson government “continues to help more families, couples and singles into their own properties with the most generous housing incentives in Australia”.

“Whether it is your first home or an investment property, BuildBonus provides a one-off, $10,000 grant to all home buyers purchasing or building a new home to the value of $600,000,” she says.

“As well as giving first-home buyers a leg up, the scheme promotes investment in the housing sector, stimulating our construction sector and creating more rental housing stock.

“The territory’s strong economy means strong demand for housing, and the Territory government is meeting the challenges of growth with record land release and generous support for homebuyers.

“Right now there is land available to purchase across Palmerston, as well as over 2,000 units shovel-ready across Darwin.”

Further information on BuildBonus can be found on the NT government's website.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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