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Speaker 1: Joining me live on the line from the Northern Territory

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Speaker 1: Property Council. Well, she was advocating for quite some time,

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Speaker 1: really quite hard on the changes when it comes to

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Speaker 1: this cap for the first home by grant, the five

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Speaker 1: percent one driven by the federal government. It's Ruth Palmer.

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Speaker 1: Good morning to you.

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Speaker 2: Ruth. Good morning, Katie. What great news.

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Speaker 1: It is really good news, Ruth. And you know, I'm

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Speaker 1: always happy to give a politician a kick up the

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Speaker 1: bum when deserved, but I will say that I think

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Speaker 1: that Luke Gosling listened in this situation and he's advocated

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Speaker 1: to the federal government and well change has been enacted.

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Speaker 2: Yeah, that's right, Katie. I mean we spoke to Luke's

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Speaker 2: sort of end of September, start of October, expressed that

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Speaker 2: we had members coming to us, brokers coming to us

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Speaker 2: about their concern around this cap that was raised direct freak,

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Speaker 2: and we just kept on him and push, push, and

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Speaker 2: he pushed, and we're back and forward, back and forward.

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Speaker 2: So it's great to see this outcome come about through

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Speaker 2: industry and the government working together to be a voice

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Speaker 2: of Territorian.

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Speaker 1: Well, Ruth, I know you'd pushed really hard on this

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Speaker 1: and that was because you were being contacted by everyday

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Speaker 1: territory and saying there's nothing available, like you know, this

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Speaker 1: is great, it seems like a good thing to be

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Speaker 1: able to utilize this five percent home guarantee scheme, but

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Speaker 1: there's nothing around for six hundred thousand bucks.

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Speaker 2: Yeah, that's right, And we will always back our our

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Speaker 2: calls with data, so you know we're scanning those realestate

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Speaker 2: dot com We used our KPMG quarterly report to be

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Speaker 2: able to show that the median house price had shifted

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Speaker 2: significantly over six months. But you know, having that real

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Speaker 2: estate data, having the data right in front of us

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Speaker 2: meant that we had the numbers to be able to

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Speaker 2: go to the Treasurer, to be able to go to

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Speaker 2: the federal member Luke Goslin, to be able to show

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Speaker 2: that it's not the same as what it used to

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Speaker 2: be in the territory. We are moving forward and we

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Speaker 2: have to keep up the pace.

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Speaker 1: ROAs any idea like as of sort of today, how

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Speaker 1: many you know, like how these change would impact you know,

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Speaker 1: the number of properties that are available. I know it

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Speaker 1: does come into effect until July, but any idea, Yeah, So.

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Speaker 2: I had a quick look last night and this morning,

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Speaker 2: and you're sitting there around forty six homes standalone homes

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Speaker 2: that come under that seven point fifty and around two

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Speaker 2: hundred and fifty properties all up, if you're including units.

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Speaker 2: US opened up such a larger market and opportunity for

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Speaker 2: people to get into their homes rather than just those

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Speaker 2: two or three that we saw previously when we first

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Speaker 2: started talking about this, when some of those were also

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Speaker 2: going to auction as well. So you know, this is

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Speaker 2: a huge change that's going to give so much more

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Speaker 2: opportunity for not only people who want to come and

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Speaker 2: set up and live in the territory, but also the

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Speaker 2: kids who are getting into their first homes or those

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Speaker 2: people who haven't owned a home in ten years or separated. Well, ros, I.

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Speaker 1: Know somebody had messaged through a little while ago and said,

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Speaker 1: you know, this could be a path, you know, a

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Speaker 1: bad path for some younger people, you know, given the

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Speaker 1: fact that they only need to save that much smaller amount,

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Speaker 1: I guess, and you know they may end up in

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Speaker 1: financial juris. The Minister said, you know, she's found that

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Speaker 1: that has not been the case. What do you reckon?

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Speaker 2: Yeah, I have to agree with the Minister on that one,

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Speaker 2: because how are the other jurisdictions managing their costs. They're

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Speaker 2: up to a million dollars for their medium house splvices.

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Speaker 2: You know, I'd be more concerned about that service ability. So,

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Speaker 2: you know, we're just matching the market now, and we

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Speaker 2: need to be able to give people a fair go.

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Speaker 2: We get good wages here in the territory. We know,

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Speaker 2: we have tradees, they earn a good income. Our nursers,

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Speaker 2: our teachers, so you know, these are hard working territorians

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Speaker 2: that deserve the same opportunity as what the rest of

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Speaker 2: the country has. And you know, we have the highest

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Speaker 2: construction rates, we have the highest freight costs, so we

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Speaker 2: need to be able to make sure that we're supporting

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Speaker 2: everybody to get into the market, put their routes down

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Speaker 2: and stay here in the territory.

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Speaker 1: Ruth, do you worry that with this increase coming into

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Speaker 1: place that we might see you know, some people go, oh, well,

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Speaker 1: I'm going to increase the price that I want to

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Speaker 1: sell my house at because I know that you know

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Speaker 1: that that's sort of that's the cap.

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Speaker 2: Well, I think at the moment there's a good amount

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Speaker 2: of properties on the market and as we are still growing,

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Speaker 2: I would expect that that will still increase slightly. I mean,

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Speaker 2: we saw a dramatic increase over the last six to

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Speaker 2: eight months. I can't see it sort of shifting, you know,

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Speaker 2: another ten or twenty percent in the next six months.

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Speaker 2: So we're kind of just at that point now where

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Speaker 2: we're balanced out. We had very slow growth for an

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Speaker 2: extremely long time, and the last year has just meant

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Speaker 2: that the territory is catching up. We're still behind, but

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Speaker 2: we are catching up and it's now being seen in

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Speaker 2: the nationalize that the territory is the place to go to,

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Speaker 2: it's the place to move to. It is still affordable

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Speaker 2: with our median house price around seventy so you know,

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Speaker 2: there is the opportunity still here. But we are now

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Speaker 2: on the eyes of the rest of the nation. We

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Speaker 2: put our foot down and we made that change, and

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Speaker 2: that's you know, I'm really proud of that, and I'm

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Speaker 2: proud of working with Luke Gosling and Bill Yann on

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Speaker 2: this batter. Yeah.

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Speaker 1: Look, it seemed like it was a bit more of

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Speaker 1: a situation of Team Territory, which is a good thing, right,

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Speaker 1: you know, we want to be.

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Speaker 2: And without the radio we wouldn't have made it happen.

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Speaker 2: So credit to you two KD. You give credit to

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Speaker 2: everybody else, but you need to give yourself a pawer.

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Speaker 1: Well, well, look, we always just we like to just

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Speaker 1: make sure that we're raising issues that every day people

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Speaker 1: are raising with us. And you know, it was something

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Speaker 1: that I really noticed when this had first sort of

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Speaker 1: you know this had first come up, is that I

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Speaker 1: had young people going, well, like, there's nothing to buy.

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Speaker 1: You know, there's not actually anything. There's no properties available,

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Speaker 1: and so that's.

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Speaker 2: Some people don't want units, yeah, because you've got to

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Speaker 2: pay those ongoing comps and it's not get associated with

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Speaker 2: a unit. So people did want those standalone home even

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Speaker 2: if it is a one or two two bedroom property,

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Speaker 2: it's still a home that people can call their own.

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Speaker 2: And you know that's so important and so empowering for

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Speaker 2: young people to be able to take that step and

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Speaker 2: to get into that market.

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Speaker 1: Well, ruth it is always good to catch up with you.

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Speaker 1: Good when there's some good news, isn't it.

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Speaker 2: I know, it's like it just puts a step in

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Speaker 2: my step.

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Speaker 1: Oh, Ruthie, good to talk to you this morning, and

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Speaker 1: no doubt we'll talk to you again soon.

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Speaker 2: Yeah, thanks for Katy and again well done for all

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Speaker 2: your hard work.

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Speaker 1: Well good on you. So keeping us up to date

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Speaker 1: was with what was going on with the with the

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Speaker 1: market and what was happening. Thank thank you, thanks so much,