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State of Markets - NT August 2012

By Staff Reporter

Essential information, plus expert insight on what is shaping the national property market...

NORTHERN TERRITORY

Fast figures

  • 0.4%: Darwin vacancy rate (SQM Research)
  • 2,300: Number of new homes to be released in master-planned suburb Zuccoli (Urbex and NT Govt)

$180 million iron ore mine coming
The Northern Territory is set to capitalise on a new $180 million iron ore project recently announced by the chief minister, Paul Henderson.

The project is estimated to provide a “never before seen” economic boost and employment injection for the Territory and WA as the resources fall within land that borders the two areas, Mr Henderson said.

Communities that will benefit in the long term include Borroloola, Minyerri, Ngukurr and Numbulwar, while the entire Roper Bar region will also see growth.

The first stage of the project will bring in 24 million tonnes of ore over eight years.

Safety project to improve public housing’s appeal
Australia’s first public housing safety officers (PHSOs) recently commenced duties in the Northern Territory, with 21 officers involved in the program.

With 15 PHSOs in Darwin, and six in Alice Springs, should the new control measures be successful they will make public housing more attractive to investors.

“The role of the PHSOs is to work collaboratively with tenants to maintain a safe and secure environment,” said public and affordable housing minister Chris Burns.

“The PHSOs will work to reduce unwanted visitors and work closely with neighbours, support services and our police force to reduce incidents of antisocial behaviour and provide a safer housing environment.”

‘Antisocial behaviour’, as defined by the NT Government, includes acts of vandalism, littering and violence as well as any action that is a source of annoyance to neighbours.

PHSOs can also ban people from public housing for up to a year.

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Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
FAIRLIGHT 46.02%
2.
CASUARINA 44.36%
3.
THE ENTRANCE NORTH 41.09%
4.
ULTIMO 40.67%
5.
LAVENDER BAY 40.2%