Housing market

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

Building approvals

Original data, numberFeb 19Jan 20Feb 20 Monthly % change Annual % change
Residential dwelling approvals 44193478.9-22.7
New houses 311428100.0-9.7
New dwellings (units)11440.0-63.6
Other dwellings (includes alterations, additions and conversions) 110-100.0-100.0
Value ($ million) 81.223.748.7105.0-40.1
Residential 22.814.924.967.29.3
Non residential 58.48.823.8168.7-59.3

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 February 2020, building approvals increased to 78.9 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 dataDec 18Sep 19Dec 19 Previous qtr % change Annual % change
Number of commencements 129153128-16.3-0.8
Houses 11911599-13.9 -16.8
Other residential 43227-15.6575.0
Conversions 762-66.7-71.4

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 ($)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: 01 May 2020

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