Chief Minister Natasha Fyles admits plans to build 11,000 homes over the next five years in the NT are ambitious.

It was among the plans agreed upon during a National Cabinet meeting yesterday with the Prime Minister keen to increase housing supply to address the rental crisis.

But Ms Fyles told Katie Woolf the Territory Government has only built 1,000 homes on average each year, with 2,000 built during the Inpex construction phase.

She says financial incentives to build new homes and support with sewage and water costs, announced by the Commonwealth will help achieve that goal.

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