State of Markets - NT March 2013

By Staff Reporter
Darwin properlty 2013

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


Fast Figures

  • 310,000: projected population in 2030 (Northern Territory government)
  • 77%: household growth between 1996 and 2021 (ABS)

NT Loan misconceptions clarified
Misconceptions surrounding housing loans in the Northern Territory have been set straight by the territory’s minister for housing, Peter ChandlerChandler, QLD Chandler, QLD.

Mr Chandler clarified the HomeNorth housing loans details, explaining that the government would be re-aligning some existing loans to create fairness across existing government home assistance loans.

“We are now linking 293 HomeNorth loans to the Commonwealth Bank’s variable rate to fit with the other government home loans,” he said.

The loan holders will now pay an average of $43.30 more per week at the linked variable rate of 6.6 per cent.

Resource boom enters new phase
Darwin’s property market will continue to see strong economic growth, fuelled by a different resources sector, according to a property expert group.

With many mining projects nearing completion in Western Australia and the Northern Territory, James Spencer, market analyst at Propell National Valuers, said the growth would be driven by a number of gas projects.

“Mining growth has decreased, but the growth of gas projects like lchthys will continue to drive the economy,” Mr Spencer said.

“As the mining boom starts to cool, it may affect WA’s growth. However, NT will continue to grow with plenty of gas projects that could potentially rival past mining projects.”

In addition to these indicators, Mr Spencer also points to low unemployment and growing income as statistical signs that Darwin’s economy is booming.

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%
State of Markets - NT March 2013
SPI logo