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Property market on the up

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Housing confidence and finance commitments are growing steadily in the Northern Territory, with the government recently committing to continue assisting property buyers.

The latest House Price Index has noted increased confidence in the greater Darwin property market, according to Treasurer David Tollner, who said these numbers are reflective of the strong demand being seen.

“An audit of government land has so far identified 70 sites across the Territory with the potential for more than 2,700 dwellings,” Mr Tollner said.

Housing finance commitments are also on the rise. During 2012/2013, housing finance commitments increased by 8.7 per cent to 4,342, compared to 3.3 per cent nationally. Excluding refinancing, housing commitments grew by 13.1 per cent.

First home buyers were also jumping in over the period, with commitments for these purchasers increasing by 9.8 per cent, and non first-time buyers jumping by 14.6 per cent.

“These figures speak for themselves, and as a government, we will continue to support Territorians who are wishing to get into the property market and ease the rental situation,” Mr Tollner said.

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