There are fears generous home builder grants being promised in the Northern Territory will lead to a profitless boom for the local building sector.
Ahead of the NT election, the Country Liberal Party and Labor are promising Australia's most generous home builder grants for first home owners, at $50,000 and $60,000 respectively.
The Country Liberal Party and Labor are campaigning on grants for first home owners worth $50,000 and $60,000 respectively."I don't believe it will be profitable," Mr Harvey said. "Banks will only accept fixed-price contracts , so it leaves you with very little leeway to adjust prices over the period of a build."He said first home buyer building grants of $20,000, distributed gradually over a three-year period, would be more sustainable for the industry.Collapse of WA builders a warning for the NTFirst home builders in the state were able to access a combined $45,000 from state and federal grants during the pandemic.
Housing Industry Association regional executive director Luis Espinoza said his organisation had been pushing both major parties to pursue larger incentives than the $10,000 currently on offer."I think it's great, it's going to go a long way," he said."During COVID … costs went up not only because there were financial incentives there, but because there were no materials," he said.
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