1 00:00:00,080 --> 00:00:02,720 Speaker 1: You did. Just hear us speaking to Luke Gosling, the 2 00:00:02,759 --> 00:00:05,960 Speaker 1: Member for Solomon, a short time ago, talking about the 3 00:00:06,280 --> 00:00:09,320 Speaker 1: you know, the first home buyer cap. It's a topic 4 00:00:09,320 --> 00:00:12,000 Speaker 1: that was on discussion for us towards the end of 5 00:00:12,080 --> 00:00:15,120 Speaker 1: last year. I'm very pleased to say that the Minister 6 00:00:15,320 --> 00:00:19,840 Speaker 1: for Infrastructure Various Portfolios, Bill Yeh, joins me on the line. 7 00:00:19,960 --> 00:00:20,560 Speaker 1: Get a Bill. 8 00:00:21,600 --> 00:00:26,920 Speaker 2: Good morning, Katie, and great to be back for twenty. 9 00:00:26,120 --> 00:00:27,880 Speaker 1: Six Oh mate, it's great to have you on the show. 10 00:00:27,920 --> 00:00:30,440 Speaker 1: When you called through before, Kathleen thought you were a 11 00:00:30,480 --> 00:00:32,920 Speaker 1: punter ringing through for a chat, and then we realized 12 00:00:32,960 --> 00:00:38,600 Speaker 1: it was you wanting to good to hear from you 13 00:00:38,720 --> 00:00:43,840 Speaker 1: this morning. Bill. Plenty happening today. Obviously this big announcement 14 00:00:44,200 --> 00:00:48,080 Speaker 1: with the first home by or the home grown bill 15 00:00:48,240 --> 00:00:53,040 Speaker 1: grants extended. Now, why did the government decide to extend 16 00:00:53,080 --> 00:00:53,840 Speaker 1: these grants. 17 00:00:55,280 --> 00:00:59,200 Speaker 2: Yeah, Look, we've seen the increase in builds and the 18 00:00:59,240 --> 00:01:01,760 Speaker 2: increase in our economy, and of course the other more 19 00:01:01,800 --> 00:01:05,040 Speaker 2: important thing too, which has been the increase in our population. 20 00:01:05,200 --> 00:01:07,720 Speaker 2: This is all coming off the back of those home 21 00:01:07,800 --> 00:01:12,000 Speaker 2: grown home build grants. And this stuff is backed in 22 00:01:12,120 --> 00:01:16,119 Speaker 2: by like some of those independent assessments, the consect Deloittes, 23 00:01:16,600 --> 00:01:20,240 Speaker 2: which is showing that we're leading the nation on home construction, 24 00:01:20,319 --> 00:01:23,760 Speaker 2: we're leading the nation on population growth, and our economy 25 00:01:23,800 --> 00:01:27,520 Speaker 2: is growing probably faster than everybody else's. So we know 26 00:01:27,600 --> 00:01:29,679 Speaker 2: to grow our economy here to terror and drive things more, 27 00:01:29,760 --> 00:01:32,360 Speaker 2: we need more people come to the territory, more people 28 00:01:32,400 --> 00:01:34,920 Speaker 2: living in the territory. But to do that, Katie, we 29 00:01:34,959 --> 00:01:37,880 Speaker 2: need housing. We need housing coming out of the ground. 30 00:01:38,000 --> 00:01:41,920 Speaker 2: So we've shown that the grants are doing that. We've 31 00:01:41,920 --> 00:01:45,200 Speaker 2: got new bills coming out and upwards of four hundred 32 00:01:45,200 --> 00:01:50,440 Speaker 2: and the sorry one four hundred homes grants put out, 33 00:01:50,560 --> 00:01:53,040 Speaker 2: which equates to about one hundred and eighty million dollars 34 00:01:53,080 --> 00:01:56,880 Speaker 2: in dollars injected into the construction industry territory, which is 35 00:01:56,960 --> 00:01:57,680 Speaker 2: absolutely great. 36 00:01:58,200 --> 00:02:01,040 Speaker 1: Yeah, it is good. It's good to see things. And 37 00:02:01,120 --> 00:02:03,640 Speaker 1: we spoke to Luke Gosling, the federal member for Solomon, 38 00:02:03,680 --> 00:02:06,480 Speaker 1: just a short time ago, because Matt Cunningham had told 39 00:02:06,560 --> 00:02:08,760 Speaker 1: us on the show a little earlier this morning. That's 40 00:02:08,960 --> 00:02:12,480 Speaker 1: the Northern Territory government continuing to try to push for 41 00:02:12,520 --> 00:02:16,320 Speaker 1: the federal government to lift that cap for their first 42 00:02:16,360 --> 00:02:20,080 Speaker 1: time bias scheme from six hundred thousand dollars now. He 43 00:02:20,200 --> 00:02:22,760 Speaker 1: said that he is looking into it further, that there 44 00:02:22,840 --> 00:02:25,000 Speaker 1: is going to be some data coming out I believe 45 00:02:25,040 --> 00:02:29,160 Speaker 1: over the coming weeks. But Bill, why do you feel 46 00:02:29,160 --> 00:02:30,760 Speaker 1: that this cap needs to be lifted. 47 00:02:31,800 --> 00:02:36,400 Speaker 2: Well, here's the rub Katie. Every other state and every 48 00:02:36,400 --> 00:02:39,440 Speaker 2: other capital city got an increase in their cap. The 49 00:02:39,440 --> 00:02:42,520 Speaker 2: only place that didn't get an increase last year by 50 00:02:42,560 --> 00:02:46,160 Speaker 2: the Commonwealth was Darwin. So are we not part of 51 00:02:46,200 --> 00:02:47,800 Speaker 2: the rest of the country. We just sort of want 52 00:02:48,520 --> 00:02:52,200 Speaker 2: our fair crack. Now, it's been proven that we've got 53 00:02:52,200 --> 00:02:57,200 Speaker 2: the fastest medium house price growth in the country. So 54 00:02:57,720 --> 00:03:01,359 Speaker 2: the caps six hundred. The medium house currently sits at 55 00:03:01,400 --> 00:03:05,359 Speaker 2: six hundred and thirty. So most terret Trorans can't get 56 00:03:05,400 --> 00:03:10,200 Speaker 2: access to that grant funding from the Commonwealth. And we 57 00:03:10,280 --> 00:03:13,239 Speaker 2: asked Claire O'Neill, the minister we wrote to a last 58 00:03:13,320 --> 00:03:15,960 Speaker 2: year and said, well will you why is this side? 59 00:03:16,000 --> 00:03:19,560 Speaker 2: Will you increase the cat? We didn't hear much. We 60 00:03:19,639 --> 00:03:22,920 Speaker 2: wrote again. We've got a response back just the other 61 00:03:23,040 --> 00:03:25,960 Speaker 2: day and said, well there's no, they're not going to 62 00:03:26,000 --> 00:03:28,320 Speaker 2: increase it straight away. They're going to refer it back 63 00:03:28,360 --> 00:03:31,079 Speaker 2: to Federal Treasury for them to come and have a 64 00:03:31,120 --> 00:03:33,760 Speaker 2: look and see whether or not they'll increase the cap K. 65 00:03:34,040 --> 00:03:37,320 Speaker 2: But the data is already there. The stats show that 66 00:03:37,360 --> 00:03:40,560 Speaker 2: we've got the fastest growing meetium house price in the country. 67 00:03:40,600 --> 00:03:43,840 Speaker 2: We just we want our fair crack. Why is Darwen 68 00:03:43,840 --> 00:03:50,920 Speaker 2: any different to Melbourne, Sydney, Perth, Brisbane, Hobart or even Adelaide. 69 00:03:51,120 --> 00:03:53,640 Speaker 2: Why are we being treated different by the Commonwealth And 70 00:03:53,680 --> 00:03:56,600 Speaker 2: for the Member for a Solomon Luke Goslin came out 71 00:03:56,680 --> 00:03:58,800 Speaker 2: last year and said we don't need to increase the 72 00:03:58,800 --> 00:04:03,000 Speaker 2: cat Well, where does is he not in tune with 73 00:04:03,080 --> 00:04:06,040 Speaker 2: what's actually happening in the marketplace at the moment. All 74 00:04:06,120 --> 00:04:09,240 Speaker 2: this is doing. It's making it harder for territories to 75 00:04:09,280 --> 00:04:11,360 Speaker 2: get into their first home at that laa end of 76 00:04:11,360 --> 00:04:11,800 Speaker 2: the market. 77 00:04:11,920 --> 00:04:14,480 Speaker 1: It does sound as though he now like he does 78 00:04:14,520 --> 00:04:17,040 Speaker 1: now think that it needs to increase. He did say 79 00:04:17,040 --> 00:04:21,400 Speaker 1: that there are units and townhouses that are available at 80 00:04:21,400 --> 00:04:22,960 Speaker 1: the moment. But look, I've had a bit of a 81 00:04:22,960 --> 00:04:25,159 Speaker 1: look on real estate dot com this morning and I 82 00:04:25,200 --> 00:04:27,640 Speaker 1: will say it was a quick one, so I may 83 00:04:27,680 --> 00:04:30,080 Speaker 1: well have gotten it wrong. But for the Greater Darwin area, 84 00:04:30,200 --> 00:04:34,719 Speaker 1: there are no standalone houses for sale under six hundred thousand. 85 00:04:35,080 --> 00:04:38,000 Speaker 1: There are ninety two units and apartments that are listed 86 00:04:38,400 --> 00:04:40,680 Speaker 1: under six hundred K. And I know there'll be some 87 00:04:40,720 --> 00:04:42,800 Speaker 1: people listening this morning saying, well, if he come on, 88 00:04:43,120 --> 00:04:46,120 Speaker 1: you know, my first place that I moved into wasn't 89 00:04:46,120 --> 00:04:49,320 Speaker 1: a house. First time buyers are expecting too much first 90 00:04:49,400 --> 00:04:51,240 Speaker 1: time round. You know you've got to enter the market 91 00:04:51,279 --> 00:04:54,080 Speaker 1: in a unit or a townhouse. But when you're spending 92 00:04:54,120 --> 00:04:56,600 Speaker 1: your hard earned cash, you do want to make sure 93 00:04:56,680 --> 00:04:59,560 Speaker 1: that you're sort of going into something that you know 94 00:05:00,000 --> 00:05:00,840 Speaker 1: you want to get into. 95 00:05:02,040 --> 00:05:04,520 Speaker 2: Well, and that's the thing a lot of people, Okay, 96 00:05:04,520 --> 00:05:07,200 Speaker 2: for some people are unit of townhouse might suit for 97 00:05:07,480 --> 00:05:10,440 Speaker 2: a young couple without kids, that may be right for them. 98 00:05:10,440 --> 00:05:12,279 Speaker 2: But if you're a mum and dad with a couple 99 00:05:12,360 --> 00:05:15,200 Speaker 2: of kids and you want that space for your kids 100 00:05:15,200 --> 00:05:18,039 Speaker 2: to grow, then at a townhouse unit doesn't really suit. 101 00:05:18,080 --> 00:05:21,760 Speaker 2: And if you can't afford to build building as expensive 102 00:05:21,839 --> 00:05:24,080 Speaker 2: as we know. But if you want to get into 103 00:05:24,120 --> 00:05:27,479 Speaker 2: the market and take up the Commonwealth scheme for first 104 00:05:27,480 --> 00:05:30,360 Speaker 2: aime buyers, you can't get into the marketplace in the 105 00:05:30,440 --> 00:05:33,400 Speaker 2: territory with that Commonwealth scheme. So there's sort of the 106 00:05:33,440 --> 00:05:37,800 Speaker 2: commonworth only pushing it to certain I suppose groups who 107 00:05:37,920 --> 00:05:39,800 Speaker 2: might just want to live in a tannhouse reunit. But 108 00:05:39,839 --> 00:05:41,839 Speaker 2: what about those mums and dads with a few kids 109 00:05:42,080 --> 00:05:45,000 Speaker 2: who wanted that option to get into the housing market. 110 00:05:45,040 --> 00:05:48,479 Speaker 2: They've saved up their deposit. That five percent that the 111 00:05:48,520 --> 00:05:51,719 Speaker 2: Commonwealth would provide for a house over six hundred k 112 00:05:51,880 --> 00:05:53,880 Speaker 2: might be just that kipping point, but at the moment 113 00:05:53,920 --> 00:05:54,800 Speaker 2: they can't access it. 114 00:05:55,240 --> 00:05:58,599 Speaker 1: Well, I'm sure I'm going to talk more about this 115 00:05:58,880 --> 00:06:02,000 Speaker 1: over the coming days. Bill Yan, it's good to speak 116 00:06:02,000 --> 00:06:03,680 Speaker 1: with you this morning. Thanks so much for having a 117 00:06:03,760 --> 00:06:05,600 Speaker 1: quick chat with us. 118 00:06:05,640 --> 00:06:07,120 Speaker 2: Be great for having us on Katie. You have a 119 00:06:07,160 --> 00:06:08,000 Speaker 2: great week you too. 120 00:06:08,120 --> 00:06:08,640 Speaker 1: Thanks mate.