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

The NT’s housing market has continued to soften, following record performance from 2012 to 2015 that was primarily driven by major resource projects. At this time, demand for property drove up prices and rents, and required a strong supply response. The subsequent softening of economic conditions has led to the supply of dwelling stock exceeding demand, resulting in the moderation of property prices and rents in recent years.

As overall housing affordability continues to improve, it means that housing cost should no longer act as a deterrent to interstate residents moving to the Territory. This has, in part, been reflected in a continued improvement in the number of housing finance commitments by first home buyers.

Nevertheless, residential construction activity remains subdued, with leading indicators such as building approvals and building activity, continuing to contract. To help stimulate the current housing market, the NT Government has launched a range of home owner incentives, discounts and grants, which can be viewed on the NTG website.

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 2019:

Alice Springs

In the December quarter 2019:

Katherine

In the December quarter 2019:

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 2019:

Capital city comparisons

In the December quarter 2019:

Housing finance commitments

In the year to March 2020:

Affordability

In the March quarter 2020:

Dwelling supply

In the year to March 2020:

In 2019:

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: