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

Property News

Residential property market to heat up in the Northern Territory

April 30, 2012

The impact of a number of high-profile resource projects in the Northern Territory have begun to spread across the wider community, according to a recent report.

Forecasting activities performed by Deloitte Access Economics for its Business Outlook research in the March quarter of 2012 has shown that the NT's economic activities have the capacity to entertain a growth rate of 4.4 per cent over the next five years.

This figure is up from previous projections which painted the region as lacking in economic momentum when compared to other parts of the nation and is well outside of the predicted national rate.

According to the territory's treasurer Delia Lawrie, the growth is being driven by private construction in both commercial and residential real estate sectors as resource exports also take off.

Ms Lawrie asserted: "The report forecasts the Territory’s economy to surge from 1.6 per cent growth in 2010-11 to 3.5 per cent in 2011-12, a great result in difficult global conditions.

"Over the next five years, the Territory economy is tipped to grow at 4.4 per cent, the second fastest in Australia, and well above the national rate of 3.2 per cent."

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

How strong is the NSW property market?

When it comes to making a purchase in the property market, it seems hard to beat the strength of ...
read more

Building booms across many sectors

There are numerous indicators of strength in the housing industry, and one strong signal of future ...
read more

Cash rate at a standstill

One crucial driver of housing demand is the official cash rate from the Reserve Bank of ...
read more