You have 0 free articles left this month.

State of Markets – NT January 2012

02 JAN 2012 • By Phillip Tarrant • 2 min read • Hotspots

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

spi default article image em4omm

 

NORTHERN TERRITORY

You’re out of free articles for this month

Fast Figures

  • 79% – five-year unit growth in Leanyer, NT
  • $405,500 – average unit price in Katherine, NT

Darwin house prices fall
The NT capital’s house prices dropped by 4.4 per cent in 2011 – the second biggest fall nationwide – according to the Australian Bureau of Statistics.

During the last recorded quarter, prices dropped by only 0.4 per cent, the slowest decrease nationally.

Brisbane recorded the highest drop over the year at 5.2 per cent, while Sydney values dropped the least, at 0.3 per cent.

The Real Estate Institute of the Northern Territory (REINT) found that while house prices had declined, however, units had risen in value by 2.4 per cent.

REINT also reported an increase in the number of properties being sold across the state.

Splitting suburban blocks could solve crisis
The average suburban housing block should be cut in half, the National Housing Supply Council chairman, Owen Donald said recently.

Allowing subdivision rights for bigger blocks to be cut into two 400 square metre areas is a potential solution for the Northern Territory’s housing crisis, Mr Donald said.

“We need to see that happening so housing affordability for young people is not impossible,” he said.

Mr Donald told the ‘Territory 2030 – A Balanced Housing Market’ conference that there are several factors that contribute to a lack of new housing.

The lack of new supply for first home buyers was mentioned as a major part of the Territory’s housing crisis.

Free investor loan check

Better property decisions start with smarter lending.

A free 15-minute finance check for property investors.

15 minutes Free No obligation

What are your lending goals?

Choose a goal to request a callback.

Buying againCheck my borrowing position Equity or refinanceReview my current loans Loan strategyGet a second opinion

Ready to talk?

Book a 15-minute call →

Finni Pty Ltd · Australian Credit Licence 384324 · Privacy

Developers are also wary of investing in residential developments in Darwin because of the city’s size and ‘boom/bust’ history.

Detached housing on smaller lots, along with a greater mix of high and medium density housing, should be allowed, Mr Donald said.

Want to see more stories from trusted news sources?
Make Smart Property Investment a preferred news source on Google.
Click here to add Smart Property Investment as a preferred news source.

Tags:
Phillip Tarrant

Phillip Tarrant

AUTHOR

Phillip Tarrant is one of Australia’s leading property commentators, with more than a decade at the forefront of conversations shaping the nation’s property investment market.

As the long-time host of the Smart Property Investment Show and a regular commentator across property, finance and business, Phillip has interviewed thousands of investors, economists, advisers, brokers, agents and industry leaders, giving him a unique perspective on the trends, policies and market forces influencing Australian property.

Beyond property commentary in the media, Phillip is an active property investor himself, with first-hand experience building and managing a diversified property portfolio across multiple markets and cycles. His insights combines this practical investor perspective with deep exposure to the broader property and financial services ecosystem.

Phillip is also CEO and co-founder of Managed, an Australian property payments and technology platform transforming the way property managers, landlords and tenants manage rental payments and property transactions.

Through his writing, podcasts and industry engagements, Phillip focuses on cutting through market noise, challenging conventional thinking and helping investors make more informed, strategic decisions. His commentary regularly explores property markets, lending, taxation, regulation, investment strategy and the changing dynamics of Australia’s housing sector.

Know more