LETTER TO THE EDITOR
Sir – Territory Labor’s success in the election was no surprise, however, the lack of an Opposition party is an interesting outcome.
Without Opposition, the need for real community and industry consultation is magnified.
It will be important for industry associations, ministerial councils and advisory groups to provide government with sound information and advice to drive best policy for the NT.
HIA welcomes the consultative approach that has been demonstrated by Michael Gunner and the Territory Labor team in the lead up to the election and we look forward to continued and thorough consultation on key industry topics, policy and legislation.
The residential building industry and the broader community has been in a stagnant state for the past six months.
Activity levels are low in both the new and existing homes market, as Territorians have been waiting for the election outcome.
Such a strong swing to Labor should indicate that the new government will bring with it an improved level of consumer confidence. Together with low interest rates, low unemployment, and further stamp duty reductions, this new environment should encourage buyers.
ALP promises stamp duty relief for first home buyers of existing properties, with no stamp duty payable on the first $500k and an additional $10k renovation grant.
The $26k First Home Buyer Grant on new homes will also continue under Territory Labor, along with the continuation of the Principal Place of Residence Grants.
We expect to see some increase in existing dwelling sales with a flow on effect to the secondary markets of new home building and renovations. We also expect to see an increase in first home buyers purchasing new homes.”
Neilia Ginnane (pictured)
Housing Industry Association (HIA)