Investors in the Northern Territory have been given an extension to the BuildBonus, treasurer Delia Lawrie recently announced.
The construction stimulus initiative, a $10,000 grant, has been extended until the 31 December 2012 where it was set to finish at the end of June.
“Whether it is your first home or an investment property, BuildBonus provides a one-off, $10,000 grant to all homebuyers purchasing or building a new home to the value of $600,000,” Ms Lawrie said of the scheme, which was introduced in May 2011.
“As well as giving first homebuyers a leg-up, the scheme promotes investment in the housing sector, stimulating our construction sector and creating more rental housing stock.”
With land available in Palmerston, and more than 2,000 units “shovel-ready” across Darwin, Ms Lawrie said that now is the time to get into the market.
“Along with huge stamp duty concessions and no land tax, BuildBonus makes it a great time to buy in and be part of our dynamic growing Territory,” she said.
First time buyers can be eligible for both the First Home Owner Grant and the BuildBonus, allowing them to receive grants up to $17,000.
Companies and trustees are also eligible for the grant.