Demolition works in progress at Wirrina in Parap

Image: Demolition works in progress at Wirrina in Parap.

Land Release

Darwin and Palmerston

The Territory Government is continuing to provide more housing options for Territorians and is fast tracking land release in our major centres as well as our regional centres.

The development of Palmerston East is progressing at a great rate with housing lots already being sold at Bellamack, and lots being available at Johnston in November. Along with Zuccoli and Mitchell, Palmerston East is set to grow by around 15,000 people over the next five years.

Palmerston CDU campus has also proposed a new suburb bordering Durack which is expected to produce around 500 housing lots, with the first lots for sale in 2010.

Alice Springs

Titles have recently been issued for Ridges Estate at Larapinta with the completion of the 39 block sub division. The Territory has purchased six blocks for first home buyers qualifying under the HomestartNT scheme and the Territory has also purchased a large block for medium density senior’s public housing.

The subdivision will comprise of 23 single dwelling blocks, 4 large multiple dwelling blocks and a large development parcel for the construction of up to 50 units. The developer is expected to start selling the blocks off the plan shortly.

Wirrina Redevelopment

The demolition of the Wirrina flats and townhouses is nearing completion. The Wirrina redevelopment is part of the Territory Government’s five-year plan to redevelop public housing sites in Parap.

This will be the first major redevelopment of housing stock and is a long term investment in the future of Parap.

A new non-government Affordable Housing Rental Company is being established to provide quality and affordable rental to medium and low income earners and this redevelopment will provide more public housing stock and private units for low-to-middle income earners.

HomestartNT

To help address the issue of increasing property prices in the Territory, HomestartNT is a Northern Territory Government initiative that is helping more Territorians to buy their own home.

The scheme, which commenced on 1 June 2009, builds on the success of previous Northern Territory Government home ownership assistance programs and has so far assisted 61 households to purchase their own home, with over $18 million in loans and shared equity purchases.

There are a further 21 households awaiting settlement, with over $5 million in loans and shared equity purchases, 87% of these households purchased in shared equity with the Northern Territory Government.

With financial support from HomestartNT, eligible Territorians earning low to middle incomes can buy their own home using no more than 30% of their before tax income. There is a range of loan types, including the Fee Assistance Loan which helps with costs that come with purchasing a home like stamp duty, fees, conveyancing and whitegoods.

HomestartNT is reviewed regularly to ensure it keeps pace with the market and continues to support Territory families to become home owners.

Buildstart


Closing 31 December 2009

Buildstart is a Northern Territory Government initiative to stimulate the construction of more housing across the Territory. It provides a $14 000 grant to assist non-first home owners and investors purchase or build a new house to live in or rent out.

To date 350 applications have been approved, supporting the construction of 350 new homes across the Territory.

Buildstart applies to:

To be eligible for the Buildstart grant, you must enter into a contract or, in the case of an owner builder, commence construction on or before 31 December 2009 (timeframes to commence and complete new constructions do apply).

Eligibility is capped to $1 million (including the land) for the purchase of a new house or unit and $700 000 (excluding the value of the land) for the construction of a new house, however there is no limit on the number of grants that a person can receive.

For further information telephone 1300 305 353 or visit www.buildstart.nt.gov.au.

Bellamack Gardens progresses

The Land Development Corporation has lodged an application with the Development Consent Authority for its residential development at Bellamack Gardens in Palmerston.

As expected the concept has evolved since the June announcement. The Land Development Corporation's first residential project now comprises a total of 28 townhouses and units, 18 of which are two-bedroom ground level townhouses; two are one-bedroom townhouses adaptable to two-bedroom; and eight are one-bedroom attached units. These townhouses and units are to be sold to buyers eligible for HomestartNT.

The locally-designed townhouses and units have been designed with the environment in mind to be energy efficient with open space. Recognising the Territory’s outdoor lifestyle, each property has private outdoor living areas for residents to enjoy.

Works are expected to begin by the end of 2009. Find out more about Bellamack Gardens.

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