Promising numbers for property investment in NT
The Northern Territory has announced several investment projects over the last few weeks, including ...
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.