Promising numbers for property investment in NT
The Northern Territory has announced several investment projects over the last few weeks, including record funding towards education and nation-high health care expenditure.
Lucrative mining projects also heat up the market - Ichthys Project is a $34 billion venture that will likely create jobs and bring local business.
Additionally, recent numbers from the Australian Bureau of Statistics reflect progress in the residential property market - financing for housing commitments has increased in NT by 8.7 per cent in December.
The number of first-time buyers also increased in December by 12.3 per cent, which treasurer Delia Lawrie inferred as a positive movement towards growth.
She said: "When one compares this to a national average of less than one per cent, it is a good sign that more Territory families are getting into the property market for the first time."
The amount of first-time home buyers increased from the previous December by 18.5 per cent.
The potential in Northern Territory may begin to encourage Australians to re-locate if employment and economic opportunities in the area continue to increase.