Housing market

Information about the Northern Territory's housing market, including building approvals and how homes are financed.

Building approvals

Original data, numberAug 19Jul 20Aug 20 Monthly % change Annual % change
Residential dwelling approvals 49313822.6-22.4
New houses 32263119.2-3.1
New dwellings (units)1326200.3-53.8
Other dwellings (includes alterations, additions and conversions) 331-66.7n/a
Value ($ million) 73.2187.3481.8157.3557.8
Residential 39.319.119.73.5-49.7
Non residential 34.0168.2462.0174.71,259.8

Source: ABS Cat No 8731

Building approvals range, minimum / maximum and current value

Building approvals - monthly data: Since 2000, the minimum monthly change in Northern Territory building approvals has been -91.1 per cent and the maximum 467.9 per cent; typically building approvals growth ranges between -52.4 per cent and 108.0 per cent. In August 2020, building approvals increased to 22.6 per cent.Building approvals - YonY data: Year on year building approvals growth has been declining for the past two years, after a period of strong growth.

Lending finance

Owner occupier, original dataJun 19Jun 20Jul 20 Monthly % change Annual % change
Owner occupier      
Number of commitments 27229435320.129.8
- Total excluding refinancing 17117122028.728.7
First home buyer 728510422.444.4
Non first home buyer (excluding refinancing) 998611634.917.2
Refinancing of established dwellings 1011231338.131.7
Purpose     
New dwellings (including construction and new dwelling purchases) 34374932.444.1
Purchase of established dwelling (including refinancing) 13713415414.912.4
Total value, all types ($million)       
Including refinancing 97.1109.5122.612.026.3
Excluding refinancing 66.865.880.021.619.8

Source: ABS Cat No 5609

Dwelling commencements

Original dataMar 19Dec 19Mar 20 Previous qtr % change Annual % change
Number of commencements 16613191-30.5-45.2
Houses 9010083-17.0 -7.8
Other residential 68295-82.8-92.6
Conversions 72350.0-57.1

Source: ABS Cat No 8752

Housing loan affordability

Affordability indicatorDec 18Sep 18Dec 19 Previous qtr % change Annual % change
Northern Territory 46.147.147.71.33.5
Australia 30.130.628.8-5.9-4.3

Source: Real Estate Institute of Australia (REIA)

Rental affordability

Proportion of median weekly family income required to rent a three bedroom house (%)Dec 18Sep 18Dec 19 Previous qtr % change Annual % change
Northern Territory 21.319.121.211.0-0.5
Australia 24.0 23.5 23.60.4 -1.7

Source: Real Estate Institute of Australia (REIA)

Median house and unit prices

Median house sale price, three bedroom house, value ($)Jun 19Mar 20Jun 20 Previous qtr % change Annual % change
Darwin overall 500,000 470,000477,5001.6-4.5
Inner Darwin 650,000 650,000 701,000 7.87.8
Darwin North East (Marrara) 635,000 685,000 550,000 -19.7-13.4
Darwin North Coastal (Nightcliff) 580,000 515,000 575,000 11.7-0.9
Darwin North (Sanderson) 455,000 447,000 440,000 -1.6-3.3
Palmerston 450,000 425,000 442,000 4.0-1.8
Katherine 350,000 300,000 349,000 16.3-0.3
Tennant Creek 280,000195,000 310,00059.010.7
Alice Springs 442,000 457,000 471,500 3.26.7

Source: Real Estate Institute of Northern Territory (REINT)

Median unit / townhouse sale price, two bedroom unit, value ($)Jun 19Mar 20Jun 20 Previous qtr % change Annual % change
Darwin overall 325,000302,750280,000 -7.5-13.8
Inner Darwin 330,000 358,500 330,000 -7.90.0
Darwin North East (Marrara) 250,000 372,500270,000 -27.58.0
Darwin North Coastal (Nightcliff) 350,000210,000 277,50032.1-20.7
Darwin North (Sanderson) 205,000 217,500 242,000 11.318.0
Palmerston 306,000 269,750 230,000 -14.7-24.8
Katherine 190,000n/a260,000 n/a 36.8
Tennant Creek n/an/a n/a n/a n/a
Alice Springs 325,500 327,000 337,500 3.23.7

Source: Real Estate Institute of Northern Territory (REINT)

Median house and unit rental prices

Median house weekly rental, three bedroom house, value ($)Jun 19Mar 20Jun 20 Previous qtr % change Annual % change
Inner Darwin 510525480-8.6-5.9
Darwin North Coastal (Nightcliff) 450 470 450-4.30.0
Darwin North East (Marrara) 43850055010.025.7
Darwin North (Sanderson) 410 400390-2.5-4.9
Palmerston 400 400 390-2.5-2.5
Katherine 425 423400-5.3-5.9
Alice Springs 510510505-1.0-1.0

Source: Real Estate Institute of Northern Territory (REINT)

Median unit weekly rental, two bedroom unit, value ($)Jun 19Mar 20Jun 20 Previous qtr % change Annual % change
Inner Darwin 3504004000.014.3
Darwin North Coastal (Nightcliff) 330 330 320 -3.0-3.0
Darwin North East (Marrara) 330 320 3406.33.0
Darwin North (Sanderson) 300 300 320 6.76.7
Palmerston 290300 298-0.72.8
Katherine 300 320 350 9.416.7
Alice Springs 380415400-3.65.3

Source: Real Estate Institute of Northern Territory (REINT)

Last updated: 12 October 2020

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