Building activity soaring in NT
Recent figures are telling of soaring building activity in the Northern Territory, with some areas seeing record residential construction statistics.
Treasurer David Tollner spoke favourably of the figures, noting they are a positive for the territory, despite there being an overall decline for residential construction over the March quarter.
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“These figures are another vote of confidence in the NT economy and a reflection of the way this government is doing business,” Mr Tollner said.
In the 12 months to March 2013, the total building activity increased by almost 25 per cent (24.4 per cent) up to $1.6 billion, which was noted to be the highest on record and of all areas.
Just over 77 per cent of this increase was in non-residential construction, due to major projects currently underway, however the value of private sector residential construction is also at its highest on record – at more than $500 million.
The decline in residential construction over the March quarter was attributed to the winding back of the Strategic Indigenous Housing and Infrastructure Program – with Darwin and Palmerston still at record high levels.
In Darwin and Palmerston, 1,300 units are currently being built. Housing construction was also noted to be “strong” in Bellamack, Johnston and Muirhead.
