Northern Territory program promoting home ownership in remote communities

Launched in June, the Northern Territory’s Remote Home Ownership Program looks to move public housing tenants in remote communities into owning a property.

It focuses on the Tiwi Islands, Groote Eylandt and Bickerton Island and seeks to allow tenants to become home owners.

Loan products will be provided by Indigenous Business Australia, including services and insurance, for the first 12 months. After the sale, the buyers will be given a special incentive grant of $20,000 for home upgrades and maintenance.

The first homes are expected to be put up for sale by the end of the year.

Housing Minister Matt Conlan said that they’re currently in the process of discussing the program with the communities and stakeholders.

This includes the traditional owners, land councils, regional councils, housing reference groups and government engagement coordinators.

 “It is clear there is an appetite for home ownership is in these communities with 11 finance applications already lodged, which is fantastic to see,” said Conlan.

 “We want public housing to be a pathway to home ownership, not an end in itself and it is pleasing to see this supported by these communities.”

Those areas with long-term township leases include Wurrumiyanga on Bathurst Island, Milikapiti on Melville Island, Angurugu and Umbakumba on Groote Eylandt and Milyakburra on Bickerton Island.

The program has been provided $4.5 million for the next three years, and this figure could see up to 50% of remote housing stock made available to tenants to buy.

“The price of properties will be determined via an independent evaluation and it is expected that most homes would be available for purchase in the $50,000 to $150,000 range,” he said.

The next stage is to request formal expressions of interest from tenants. This will then be followed by an eligibility assessment.

Photo courtesy of Wikimedia COmmonso