Stamp duty concessions have helped to drive sales at Canberra's newest suburb amid the coronavirus-induced economic slump, according to the ACT government.
Buyers have snapped up 330 blocks of land in the new suburb of Whitlam since the start of the year, including 250 in the past month.
Suburban Land Agency chief executive John Dietz said internal government analysis had found that the concessions and incentives rolled out to support home buyers and stimulate activity in the construction industry amid the COVID-19 pandemic had contributed to sales.
The ACT government has waived stamp duty on new single residential blocks since early June.
It is also offering $10,000 rebates for buyers to install solar panels, electric vehicle charge points and electric appliances at their future home.
The federal government is also offering $25,000 grants to people who are building a new home, buying off the plan or substantially renovating an existing property as part of its HomeBuilder scheme.
Figures supplied to The Canberra Times showed that 194 stamp duty concessions have been approved since the start of the Barr government program
A total of 16 HomeBuilder grants have been paid out through the ACT Revenue Office, which is administering that scheme in the nation's capital on the Commonwealth's behalf.
That represents an approval rate of just 2 per cent, with a total of 752 applications received.
Applicants do need to meet a number of criteria to access the $25,000 grant, including that construction work has started on a new build or renovation.
"Of the different grants, it was the stamp duty exemption that has probably had the most positive impact [on land sales]," Mr Dietz said.
Construction on the first 500 homes in Whitlam is due to start next year, coinciding with another release of blocks to market.
Once complete, the Molonglo Valley suburb - which is named after former Labor Prime Minister Gough Whitlam - will include more than 2000 homes, parks and a school.
The recent uptick in land sales has come after a tumultuous period for the Suburban Land Agency, which was forced to seek a $50 million lifeline from the ACT government earlier this year because of a "dire" financial situation.
The predicament resulted from the government agency's failure to sell land, which was blamed, in part, on the high price of the blocks.
The Barr government ultimately agreed to provide a $30 million lifeline, however the agency hasn't yet needed to access the emergency funds because of its improved financial position.
Mr Dietz and Housing and Suburban Development Minister Yvette Berry visited Whitlam on Tuesday morning to mark opening of the suburb's roads to the public.
During the event's formalities, Ms Berry became emotional when Ngunnawal elder Aunty Violet Sheridan poured soil into the hands of the Deputy Chief Minister as part of a so-called "passing of the soil".
It was designed to recreate Gough Whitlam's famous gesture of pouring soil into the hands of Gurindji elder Vincent Lingiari, which signified the legal transfer of land back to his people in 1975.
"A suburb named after Gough Whitlam has to be more than just a suburb," Ms Berry said when asked to explain her reaction to Aunty Violet's gesture.
"It has to be a place where we can really connect and practice reconciliation in a way that is meaningful to all of us.
"Receiving that [the soil] from Aunty Vi says something really powerful to me that they trust me to do the right thing by them."
