The Northern Territory Government on Tuesday revealed $301 million will be placed towards a 'Remote Housing Investment Package', funding new builds and extensions of HomeBuild NT, Room to Breathe and Government Employee housing programs.

This investment is coupled with $235.8 million towards land servicing to support the 'Remote Housing Investment Package' and $150 million for ongoing support to improve existing housing through the national partnership agreements funded by the Commonwealth. 

To support remote teachers, the Northern Territory Government noted the budget also includes a further $9.3 million to construct and upgrade homes for remote teachers. 

The planned yield for 2022-23 includes at least 260 new homes, and the construction of a minimum of 200 serviced lots.

Since 2016, more than 2,380 homes in remote areas across the NT have been built, upgraded and improved, including works completed and underway and amounts to around 6500 new living spaces.

See more: Home loans for Indigenous Australians 

Chansey Paech, Territory Minister for Remote Housing and Town Camps, said this significant investment which includes contributions from both the Territory and Australian governments, will be the biggest spend within the program so far and sets a record for the Northern Territory.

“Our investment in housing is fundamental to better outcomes across the board and the cornerstone of economically viable, skilled communities," Mr Paech said. 

“The new financial year comes with exciting prospects for our remote housing program, and I’m looking forward to seeing many of our projects come to fruition.”

In March, the Northern Territory revealed a new scheme to connect eligible key workers with affordable rental housing in the private market called 'Rent Choice'. 

Under Rent Choice, eligible key workers can source private rental housing and receive a maximum rental subsidy of $12,000 for up to 12 months - this depends on requirements such as income, household size and rental location.

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LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
6.04% p.a.
6.06% p.a.
$3,011
Principal & Interest
Variable
$0
$530
90%
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5.99% p.a.
5.90% p.a.
$2,995
Principal & Interest
Variable
$0
$0
80%
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6.09% p.a.
6.11% p.a.
$3,027
Principal & Interest
Variable
$0
$250
60%
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  • Unlimited additional repayments free of charge
 Disclosure
5.69% p.a.
6.16% p.a.
$2,899
Principal & Interest
Fixed
$0
$530
90%
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 Disclosure
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

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