Housing market

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

Building approvals

Original data, numberNov 18Oct 19Nov 19 Monthly % change Annual % change
Residential dwelling approvals 792552108.0-34.2
New houses 431938100.0-11.6
New dwellings (units)36414250.0n/a
Other dwellings (includes alterations, additions and conversions) 020n/an/a
Value ($ million) 88.965.455.8-14.7-37.3
Residential 35.826.232.523.9-9.2
Non residential 53.239.223.3-40.5-56.2

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 -51.5 per cent and 110.9 per cent. In November 2019, building approvals increased to 108.0 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.

Housing finance

Owner occupier, original dataSep 18Aug 19Sep 19 Monthly % change Annual % change
Type      
Number of commitments 25520023417.0-8.2
- Total excluding refinancing 21115918013.2-14.7
First home buyer 10167704.5-30.7
Non first home buyer (excluding refinancing) 1109211019.60.0
Refinancing of established dwellings 44415431.722.7
Purpose     
New dwellings (including construction and new dwelling purchases) 7673786.82.6
Purchase of established dwelling (including refinancing) 17912715622.8-12.8
Total value, all types ($million)       
- Including refinancing 80.861.171.617.2-11.4
- Excluding refinancing 69.748.157.920.3-17.0

Source: ABS Cat No 5609

Dwelling commencements

Original dataSep 18Jun 19Sep 19 Previous qtr % change Annual % change
Number of commencements 205150149-0.7-27.3
Houses 1761181180.0 -33.0
Other residential 283225-21.9-10.7
Conversions 116500.0500.0

Source: ABS Cat No 8752

Housing loan affordability

Affordability indicatorSep 19Jun 19Sep 18 Previous qtr % change Annual % change
Northern Territory 52.048.547.87.28.8
Australia 32.832.2 32.11.92.2

Source: Real Estate Institute of Australia (REIA)

Rental affordability

Proportion of median weekly family income required to rent a three bedroom house (%)Sep 19Jun 19Sep 18 Previous qtr % change Annual % change
Northern Territory 19.120.220.0-5.4 -4.5
Australia 23.5 23.8 23.9-1.3 -1.7

Source: Real Estate Institute of Australia (REIA)

Median house and unit prices

Median house sale price, three bedroom house, value ($)Dec 18Sep 19Dec 19 Previous qtr % change Annual % change
Darwin overall 493,750 460,000460,0650.0-6.8
Inner Darwin 675,000 770,000 725,000 -5.87.4
Darwin North East (Marrara) 630,000 940,000 717,500 -23.713.9
Darwin North Coastal (Nightcliff) 555,000 520,000 522,000 0.4-5.9
Darwin North (Sanderson) 485,000 438,750 430,000 -2.0-11.3
Palmerston 447,000 406,250 430,000 5.8-3.8
Katherine 312,000 320,000 297,500 -7.0-4.6
Tennant Creek 180,000120,000 150,00025.0-16.7
Alice Springs 475,000 455,000 450,000 0.0-5.3

Source: Real Estate Institute of Northern Territory (REINT)

Median unit / townhouse sale price, two bedroom unit, value ($)Dec 18Sep 19Dec 19 Previous qtr % change Annual % change
Darwin overall 350,000294,000 305,000 3.7-12.9
Inner Darwin 355,000 300,000 335,000 11.7 -5.6
Darwin North East (Marrara) 332,500 440,000440,000 0.032.3
Darwin North Coastal (Nightcliff) 377,500 300,000 266,250-11.3-29.5
Darwin North (Sanderson) 279,000 253,500 202,000 -20.3-27.6
Palmerston 279,000 239,250 239,000 -0.1-16.7
Katherine n/an/an/a n/a n/a
Tennant Creek n/an/a n/a n/a n/a
Alice Springs 327,500 327,000 304,500 -6.9-7.0

Source: Real Estate Institute of Northern Territory (REINT)

Median house and unit rental prices

Median house weekly rental, three bedroom house, value ($)Dec 18Sep 19Dec 19 Previous qtr % change Annual % change
Inner Darwin 55049055012.20.0
Darwin North Coastal (Nightcliff) 470 480 455-5.2-3.2
Darwin North East (Marrara) 470n/a503n/a7.0
Darwin North (Sanderson) 410 400 45012.59.8
Palmerston 400 400 4000.00.0
Katherine 400 425 4505.912.5
Alice Springs 5205205352.92.9

Source: Real Estate Institute of Northern Territory (REINT)

Median unit weekly rental, two bedroom unit, value ($)Dec 18Sep 19Dec 19 Previous qtr % change Annual % change
Inner Darwin 380 360 40011.15.3
Darwin North Coastal (Nightcliff) 330 325 330 1.50.0
Darwin North East (Marrara) 365 330 3403.0-6.8
Darwin North (Sanderson) 320 320 300 -6.3 -6.3
Palmerston 305290 32010.34.9
Katherine 330 305 330 8.20.0
Alice Springs 390420400-4.82.6

Source: Real Estate Institute of Northern Territory (REINT)

Last updated: 06 February 2020

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