Australians are becoming wealthier – and it’s thanks to property
Wealth per capita is now sitting at a record high of $522,032, thanks to record-high property prices. ...
Further land releases have been planned for the Zuccoli subdivision as the territory government pushes to improve housing affordability.
Minister for lands and planning Peter Palmerston would be released immediately following the completion of stages three and four, which are currently under construction.announced stage five of the new housing estate in
Mr Chandler said the accelerated land release program aimed to introduce affordable housing options to the Darwin and Palmerston markets.
“Affordability of land is as important as availability and that is why an average price point between $160,000 and $180,000 has been a key objective of land release in Zuccoli,” Mr Chandler said.
“House prices and rents have begun to stabilise but more needs to be done, that is why this government has invested $135 million into the Territory’s largest ever land release program.”
Stages three and four of the estate comprise 1,300 new homes, two new schools and community shops.
The next release is expected to add an additional 400 dwellings to the suburb.
The government has also begun rolling out $10 million worth of infrastructure projects to support the new dwellings, including sewage and water connections.
“These are large scale works that will cater for a majority of the needs for Zuccoli as this suburb rapidly develops,” Minister for infrastructure Peter Styles said.