Northern Territory property confidence tops the charts
Residential property investors in the Northern Territory are amongst some of the most upbeat individuals in the market, according to a recent survey.
The Property Council of Australia and ANZ Bank have released the findings of a joint report that shows that of the 2,800 professionals covered by researchers, those in the top end are showing the most confidence.
According to the experts, Territorians have risen in spirits by 25 points from 120 to 145 - ousting Western Australia as having the most positive outlook for real estate in the medium term.
Speaking on the findings of the survey, Property Council’s Northern Territory Division president Brendan Dunn explains that is had a lot to do with the expectations of a new gas project that could be worth $30 billion.
Dunn said that the "sheer size and duration" of the INPEX energy deal would help to improve investor appeal, leading to a boost in urban development.
"We've already got some favourable investment conditions in the Territory, and with an economic driver like INPEX into the bargain, we're set for an unprecedented growth phase here, regardless of what happens in the global economy," asserted Dunn.