The success of the Finocchiaro CLP Government's nation-leading HomeGrown Territory grants scheme continues with an increasing number of people benefitting from the housing stimulus program.
Since launching on 1 October last year, 323 applications have been received, and 154 grants have been paid totalling $1.8 million.
A further 81 grants have been approved and scheduled to be paid totalling $2.69 million.
The HomeGrown Territory Grants scheme is the most generous housing stimulus program in the country and delivers on the Finocchiaro CLP Government's promise to rebuild the economy and restore the Territory's iconic lifestyle.
"The Territory begins 2025 with a renewed sense of hope and optimism and this continued and significant interest in our HomeGrown Territory grants is proof we are delivering confidence and certainty back to the NT," said Mrs Finocchiaro.
"A strong economy will help reduce crime and restore the lifestyle that makes the Territory such a great place to live, work, invest and raise our families.
"Our HomeGrown Territory grants program is encouraging Territorians to put down roots and build a life in the Territory. It is deliberately designed so the grant money can be used towards a deposit, it is securing our population, encouraging investment and creating tens of millions of dollars in economic stimulus."
Treasurer Bill Yan MLA said Treasury estimated the 12-month program would support 650 new home builds, 414 jobs and will increase Gross State Product by about $197 million.
"This program is further complemented by our Payroll Tax reforms, in particular the exemption of wages paid to apprentices and trainees, which creates an economic climate for the construction industry to thrive," said Mr Yan.
"It provides industry with lower operating costs to do business and a catalyst to deliver increased employment and training opportunities to Territorians.
"We have already seen a marked improvement in residential building approvals in the Territory, which ended the year with an increase of 24.2%; well above the national average of 11.2%.
"This brings the Territory to the third strongest jurisdiction in the nation for new residential building approvals.
"This absolutely confirms the ship is changing course, and our HomeGrown Territory grants program is delivering positive change to our economy.
Key to the program is the $50,000 First Homeowner Grant for first home buyers building or buying a new home in the Territory. Of the $50,000 grant:
56 applications have been received;47 have been approved with the grant paid when construction commences on their new home;3 applications continue to progress; and6 grants have been paid totalling $300,000.
For Roshan Sapkota and partner Sushma, the $50,000 grant has helped them achieve their homeownership dream in the Territory.
"I have lived in the Territory for over 10 years. In this time, I have developed a strong connection to the community and have enjoyed the unique lifestyle the Territory offers. I graduated from Charles Darwin University and have deep family ties in Darwin," said Mr Sapkota.
"The Territory is a great place to live and to raise a family. It has strong community spirit, and everyone is friendly and welcoming. The job opportunities are really good but it's also a place that really values work-life balance. It's a place that understand how important it is to invest time in your family.
"We always wanted to make the Territory our home, but we found it difficult to achieve homeownership which is really important to us. This grant has changed that."
The $50,000 grant meant the Sapkotas were able to purchase a newly built home at Lee Point, with the money counting towards their deposit.
"It feels amazing to finally own our own home," said Mr Sapkota.
"I'd like to thank Lia Finocchiaro and her Government for the $50,000 grant. This support has been crucial in helping us take the final steps towards achieving our goals of buying our own home and being able to contribute further to the community."
