Investors in Darwin will see a soaring property market off the back of future resources projects, developments and government initiatives.
A new government strategy has been announced that will see Darwin’s population gThe Darwin property market is set to soar off the back of future resources projectsrow by more than 50 per cent by 2030.
Chief Minister Paul Henderson yesterday released the Greater Darwin Plan, a strategic framework that will guide the growth of Darwin city and the surrounding region.
“This plan will help Darwin grow by up to 70,000 extra people over the next 15 years while maintaining the unique character of our communities and suburbs,” Mr Henderson said.
“The Plan outlines initiatives aimed squarely at making housing more affordable and providing more options for Territory families through a balance of infill in existing suburbs and developing new suburbs,” he said.
“The Territory is about to enter a period of record employment and population growth and this plan provides the strategic planning framework as Darwin grows into the oil and gas capital of Australia.”
With new resources ventures underway such as the $33 billion LNG Inpex/Ichthys project, the expansion of military bases and proposed government funded gas and mining projects, Darwin is set for another growth phase, according to Hotspotting.com.au founder Terry Ryder.
“If you believe in the future of Darwin, boosted by Inpex, the military and some of the other projects on the horizon then I would say now is the time to buy,” Mr Ryder told Smart Property Investment.
“This isn’t something with a two or three year horizon, it’s going to extend decades into the future,” he said.