1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar

Property News

Rise in Territorians buying a house

May 15, 2012

More people in the Northern Territory have been successful at buying a house, latest figures from the Australian Bureau of Statistics (ABS) show.

Finance commitments in the state increased by 22.8 per cent, which treasurer Delia Lawrie believes is a sign of confidence in the economy and that people are taking advantage of land release.

"The Territory economic future is extremely bright, with growth tipped by Access economics to be the second fastest in Australia at an average of 4.4 per cent over the next five years," she continued.

Ms Lawrie explained that first time buyer activity has also increased across the region, as the number of housing finance commitments granted to them increased by 24 per cent.

This compares to a national figure of just 6.3 per cent, making it the highest level seen since October 2009.

Buyers could be attracted to the Northern Territory due to its buoyant jobs market, as data from ANZ Bank shows that the number of positions advertised in newspapers increased by 54.8 per cent in April.

It was the only jurisdiction in Australia to have posted an increase, Ms Lawrie acknowledged.


Related Articles

NT residential real estate developments under review

The Northern Territory government has unveiled plans to boosting housing stocks in Darwin - a move ...
read more

Northern Territory mining projects may attract property investment

The Northern Territory government has given the final tick of approval to an $8 billion mining ...
read more

First time buyers emerge in droves in the NT

Northern Territory residents are taking advantage of the territory's first time buyer scheme, ...
read more

Latest Articles

Is it time for a change?

Is your current home not quite right for your needs? Whatever the reason, you might sell your ...
read more

Growing home lending figures in Western Australia highlight construction rise

Anyone interested in buying land in Western Australia and building their own residential property ...
read more

Calls to keep stamp duty exemption for first home buyers in Western Australia continue

The Real Estate Institute of Western Australia (REIWA) has stood up or the rights of first home ...
read more