Housing


This section provides analysis on the performance of the Northern Territory's (NT) residential housing market, including property prices and rents by region, housing affordability and finance commitments, and building activity and approvals.

 Infographic showing median unit price Infographic showing weekly house rent Infographic showing weekly unit rent


Key facts | Greater Darwin | Alice Springs | Katherine | Tennant Creek | Capital city comparison | Housing finance commitments | Affordability | Dwelling supply | Explanatory notes

Residential property is a significant source of wealth for both owner‑occupiers and investors, and the status of property and rental markets can have a significant impact on consumer confidence. After several years of decline, Darwin’s residential property market has stabilised and is showing signs of recovery, reporting two consecutive quarters of median house price growth in the first half of 2020.

The recovery in the Territory’s property markets is expected to be modest, influenced by economic and labour market conditions and population growth. This is in an environment where some degree of excess housing stock persists, and residential building approvals and construction activity are at historically low levels.

Territory and Commonwealth government policies , such as the BuildBonus grant, home buyer incentives and the HomeBuilder scheme, together with low interest rates, are supporting demand but excess supply will need to be absorbed before there is any sustained recovery in the construction of new dwellings.

For further information about the NT’s housing market, the Department of Treasury and Finance provide quarterly property price economic briefs, and the Real Estate Institute of Northern Territory release quarterly local market publications.

Key facts

Greater Darwin

In the December quarter 2020 the:

Alice Springs

In the December quarter 2020 the:

Katherine

In the December quarter 2020 the:

Tennant Creek

Data is highly volatile due to the lower sales volume as there are only a small number of properties on the market. Consequently, the Real Estate Institute of the Northern Territory does not report sales, rental prices or vacancy rates for units in Tennant Creek.

In the December quarter 2020 the:

Capital city comparisons

In the December quarter 2020:

Housing finance commitments

In the year to February 2021 the:

Affordability

In the December quarter 2020:

Dwelling supply

In the year to March 2021:

In the year to December 2020:

Explanatory notes

NT median house and unit prices and rents are sourced from the Real Estate Institute of the Northern Territory (REINT). REINT groups the regions of Darwin and Palmerston together as Greater Darwin. Darwin is further broken down into zones that cover the following suburbs: