First-home buyer stamp duty concessions are about to change in the Northern Territory | ABC News

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  • ABC News (Australia) published this video item, entitled “First-home buyer stamp duty concessions are about to change in the Northern Territory | ABC News” – below is their description.

    First-home buyers will no longer get a ‘stamp duty discount’ from the Northern Territory government when the concession is scrapped at the end of June. Potential buyers say they fear they will be shut out of the market, unable to afford a deposit.

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    In This Story: Northern Territory

    The Northern Territory (aka NT) is a vast federal territory in Australia famed for its Outback desert landscapes. In the arid Red Centre lie the iconic sandstone monolith Uluru (Ayers Rock), the red-rock domes of Kata Tjuta and the sculpted cliffs of Kings Canyon in Watarrka National Park.

    Alice Springs is the gateway town to the Red Centre desert.

    The NT covers 1,349,129 square kilometres (520,902 sq mi). It is sparsely populated, with a population of only 245,353.

    The economy is based largely on mining and petroleum, which during 2018–2019 contributed 23% of the gross state product, or $5.68 billion, accounting for 92.4% of exports.

    The capital and largest city is Darwin. The population is concentrated in coastal regions and along the Stuart Highway.

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