Northern Territory gears up for great things

Northern Territory gears up for great things

A number of initiatives in the Northern Territory may prove good news for those with home loans in the area. The recently introduced Water Smart Initiative may help homeowners with their living costs, while the fast-tracking of land releases could help out those looking to get a leg up on the property ladder, not to mention provide opportunities for property investors.

Dive in to the Northern Territory

Minister for Essential Services Willem Westra van Holthe pointed out the benefits of Living Water Smart's most recent initiative. Homeowners, may wish to pay attention to what's been announced.

Living Water Smart aims to reduce the amount of water used across the Darwin region, with the bold aim of reducing use by 10,000 million litres over a five-year period, providing tips for indoor and outdoor use. That's not to mention the advice for local businesses, which can help them minimise their water use.

A new initiative is particularly important to anyone with a fixed or variable home loan looking to further drive down their household costs.

Living Water Smart has given homeowners three-star water efficient showerheads at no cost.

"Inefficient, water-greedy showerheads use up to 20 litres of water per minute, whereas the free three-star rated showerheads use no more than nine litres per minute. Using less water protects our precious natural resources while also saving money for customers and I hope everyone can take part in swapping their old for new," explained Mr Westra van Holthe on November 10.

Living Water Smart's SWAPIT Campaign - in conjunction with the Power and Water Corporation - is set to make a big difference in the area.

According to Mr Westra van Holthe, the use of such water-efficient showerheads is a huge positive, potentially saving thousands of litres of water every year.

"This easy to implement initiative will help residents save money on their water bill, as well as help stop water wastage. I encourage all Darwin residents to take advantage of this initiative and swap their showerheads free of charge," he said.

The campaign runs for the week beginning November 10, so homeowners should get in quick.

More land in Alice Springs

Meanwhile, those looking to build their own dwelling or refinance their mortgage to secure a larger property will be interested in a recent government announcement.

The Kilgariff subdivision project is entering its next phase, which is news sure to please those looking to upgrade their property options.

As of November 7, 47 new lots were available for purchase in the area.

"This comes on top of the 33 lots released earlier this year in stage 1A which have been selling strongly with prices ranging from $160,000 to $180,000. Prices in Stage 1B will also be in that price bracket making blocks in Kilgariff a great deal for home buyers," said Chief Minister Adam Giles on November 7.

Kilgariff will have more than houses, however. It's set to have a sports oval, village centre and plenty of open spaces.

Plus for those who enjoy an active lifestyle, the addition of cycle lanes in the area could make purchasing a block to build on an even more attractive prospect.

"This project is another big stimulus to the local Alice Springs construction industry and is among a range of new government developments that are boosting the local economy," explained Mr Giles.

Mr Giles elaborated further, noting the importance of upping the ante on boosting housing stock. In turn, this will place downward pressure on dwelling prices and rents, not to mention the cost of living.

"That's why we are releasing land at a record pace and why we've increased the First Home Buyers Grant to $26,000 for new homes, including those at Kilgariff."

Image credit: Gary Bembridge