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Fear of Property Sharks Dismissed

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  • Fear of Property Sharks Dismissed

    News Item from www.theaustralian.com.au

    FEARS that Aboriginal land would be lost to predatory outsiders under plans to boost private ownership were unfounded, Indigenous Affairs Minister Amanda Vanstone said yesterday.
    While government changes to the Northern Territory land rights laws released yesterday would allow traditional owners to sell entire towns to anyone, black or white, Senator Vanstone insisted owners would hold the ultimate and collective discretion on a sale.

    Senator Vanstone said it was up to traditional owners to place their own limits on who would hold the sub-leases, including non-Aboriginal people.

    The program was limited to townships rather than potential mine sites, she said.

    "It is understood that what we're suggesting here is not a panacea for the economic circumstances of Aboriginal Territorians," Senator Vanstone said.


    "If there was a magic wand, someone would have found it by now and this alone isn't it, but it is a step in the right direction."

    The Howard Government has declared it wants the system to be adopted nationally, and will begin negotiations with state governments to encourage them to change their laws.

    To help Aboriginal people pay for the houses, the Government has allocated $7.3 million to the Home Ownership Program run by Indigenous Business Australia to target communities living on communal land.

    Under this program people can borrow money from the IBA at concessional interest rates.

    Some Aboriginal leaders fear opportunistic real estate agents and speculators would exploit the changes and leave the next generation of indigenous people living in squalor.
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