NT leading the nation in home construction
The NT’s building approvals have surged, according to new government data, with the government revealing what’s behind the jump.
Northern Territory
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THE NT government has cited its BuildBonus scheme and the Commonwealth’s HomeBuilder program for skyrocketing home building approvals.
Recent Australian Bureau of Statistics data showed the Northern Territory’s residential building approvals had increased 170 per cent in March 2021.
The rate was the highest of any state and territory.
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The government also claimed it had handed out 52 fidelity certificates on new homes and renovations so far this April, up from 26 in all of April 2020.
Chief Minister Michael Gunner said 2021 was showing positive signs for sales and rentals.
“There’s more demand for housing than ever before, and so what we’re doing is investing in new land to ensure there’s plenty more down the track,” Mr Gunner said.
Master Builders NT chief executive David Malone said while fidelity certificates had dropped month-on-month, government incentives were still boosting the market.
“It’s clear that BuildBonus and HomeBuilder incentive packages have had a huge impact on the Territory’s residential building activity,” Mr Malone said.
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