Mr MILLS - 1999-08-18
As a member representing the fastest-growing area of the Territory, I am aware of the importance of the government’s loan schemes to support first home buyers. I ask the minister to provide information about the progress of the HomeNorth loans program, particularly in the Palmerston area.
ANSWER
Mr Speaker, I know the member for Blain very much supports the home-ownership program the government is sponsoring. He does live in one of the fastest-growing cities in Australia, so obviously he has a keen interest in what is happening there.
The government is really pleased with the way our HomeNorth schemes are going, certainly as regards increasing the level of home ownership in the Territory. By supporting that we are obviously supporting the construction industry and the real estate industry. As well, we are making sure families have a commitment to the Territory.
HomeNorth schemes were introduced in 1997. Last year , 209 Territorians received loans under the HomeStart scheme at a cost of $24m. HomeStart is a shared-equity scheme under which the government provides loans for Territorians to buy or build in the private market. That part of the HomeNorth schemes certainly stimulates the construction industry.
Territorians who qualify for HomeStart can also get deposit assistance under the EarlyStart scheme. Last financial year 470 households received deposit assistance. A further 143 were helped through the Assist interest-subsidy scheme. 424 public housing tenants purchased their homes under the HomeShare tenant shared equity scheme, and 162 bought their homes outright. Money generated from these sales is, of course, put back into building new homes, particularly in areas of need. I stress again that one of our areas of great need is housing for seniors.
Palmerston, of course, as the member for Blain knows, has a great record of home ownership and of encouraging young people to purchase. This government is developing new areas out there. Only recently we announced the development of Farrar, which is great to see.
The people of Palmerston obviously appreciate and understand the value of the HomeNorth scheme. It’s pleasing to see that a total of 160 home loans, totalling $13m, have been approved since 1997. A further 90 government homes have been purchased in Palmerston by former public housing tenants. Overall, the government has assisted 250 first home buyers to buy or build their homes in the Palmerston area through a range of our HomeNorth products. Other home buyers would have also received the EarlyStart deposit assistance or the Assist interest subsidy.
There is no doubt that the government is responding to the needs of the people in Palmerston. We realise that we can provide them with assistance to purchase their homes so that they will stay here, become good Territorians and encourage our economy as well. The member for Blain has been most supportive in his electorate, assisting people to find out all they need to know about the HomeNorth schemes. He realises he is helping them make one of the most important decisions that they can make, and that is to have a stake in the future of the Territory.
ANSWER
Mr Speaker, I know the member for Blain very much supports the home-ownership program the government is sponsoring. He does live in one of the fastest-growing cities in Australia, so obviously he has a keen interest in what is happening there.
The government is really pleased with the way our HomeNorth schemes are going, certainly as regards increasing the level of home ownership in the Territory. By supporting that we are obviously supporting the construction industry and the real estate industry. As well, we are making sure families have a commitment to the Territory.
HomeNorth schemes were introduced in 1997. Last year , 209 Territorians received loans under the HomeStart scheme at a cost of $24m. HomeStart is a shared-equity scheme under which the government provides loans for Territorians to buy or build in the private market. That part of the HomeNorth schemes certainly stimulates the construction industry.
Territorians who qualify for HomeStart can also get deposit assistance under the EarlyStart scheme. Last financial year 470 households received deposit assistance. A further 143 were helped through the Assist interest-subsidy scheme. 424 public housing tenants purchased their homes under the HomeShare tenant shared equity scheme, and 162 bought their homes outright. Money generated from these sales is, of course, put back into building new homes, particularly in areas of need. I stress again that one of our areas of great need is housing for seniors.
Palmerston, of course, as the member for Blain knows, has a great record of home ownership and of encouraging young people to purchase. This government is developing new areas out there. Only recently we announced the development of Farrar, which is great to see.
The people of Palmerston obviously appreciate and understand the value of the HomeNorth scheme. It’s pleasing to see that a total of 160 home loans, totalling $13m, have been approved since 1997. A further 90 government homes have been purchased in Palmerston by former public housing tenants. Overall, the government has assisted 250 first home buyers to buy or build their homes in the Palmerston area through a range of our HomeNorth products. Other home buyers would have also received the EarlyStart deposit assistance or the Assist interest subsidy.
There is no doubt that the government is responding to the needs of the people in Palmerston. We realise that we can provide them with assistance to purchase their homes so that they will stay here, become good Territorians and encourage our economy as well. The member for Blain has been most supportive in his electorate, assisting people to find out all they need to know about the HomeNorth schemes. He realises he is helping them make one of the most important decisions that they can make, and that is to have a stake in the future of the Territory.
Last updated: 09 Aug 2016