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

Property News

Northern Territory developments could depend on residential property investment approvals

May 30, 2012

The substantial resource developments being undertaken in the Northern Territory over the next few years are widely recognised to have the capacity to deliver significant contributions to the wider economy.

However, this extensive boost in highly dependent on other commercial factors - with chief minister Paul Henderson telling reporters that he believes the capital city in particular has the potential to be a spring of residential property success.

Mr Henderson asserted: "I am calling on the banks today to see Darwin as a boom town, not as a bust town they are seeing in many other centres, particularly in Victoria and other parts of the nation."

The minister went on to explain there are around 4,000 lots of land available to developers in the capital, along with more than 2,000 apartments and townhouses.

He stated that the projects in question needed more in the way of investment "to get these projects out of the ground" and called on financial institutions to examine their potential returns.

With the large number of workers expected to be needed to operate the Ichthys gas plant in the Browse Basin - not to mention the supplementary services this increase in population is sure to require - it is easy to see why the minister is keen to encourage residential property investment in the region.

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