Housing market

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

Building approvals

Original data, numberAug 19Jul 19Aug 18 Monthly % change Annual % change
Residential dwelling approvals 414674-10.9-44.6
New houses 244266-42.9-63.6
New dwellings (units)1342225.0550.0
Other dwellings (includes alterations, additions and conversions) 406n/an/a
Value ($ million) 47.745.192.05.7-48.2
Residential 34.425.832.133.47.1
Non residential 13.319.359.9-31.3-77.8

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 -51.5 per cent and 111.1 per cent. In August 2019, building approvals decreased to -10.9 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 dataJul 19Jun 19Jul 18 Monthly % change Annual % change
Type      
Number of commitments 24220525218.0-4.0
- Total excluding refinancing 1921751989.7-3.0
First home buyer 8174579.542.1
Non first home buyer (excluding refinancing) 1111011419.9-21.3
Refinancing of established dwellings 50305466.7-7.4
Purpose     
New dwellings (including construction and new dwelling purchases) 303652-16.7-42.3
Purchase of established dwelling (including refinancing) 16213914616.511.0
Total value, all types ($million)       
- Including refinancing 75.766.779.813.6-5.1
- Excluding refinancing 63.257.763.29.60.0

Source: ABS Cat No 5609

Dwelling commencements

Original dataMar 19Dec 18Mar 18 Previous qtr % change Annual % change
Number of commencements 15612918720.9-16.6
Houses 85 119 137-28.6 -38.0
Other residential 684401600.070.0
Conversions 2711-71.4-81.8

Source: ABS Cat No 8752

Housing loan affordability

Affordability indicatorJun 19Mar 19Jun 18 Previous qtr % change Annual % change
Northern Territory 48.549.646.4-2.24.5
Australia 32.233.0 31.1 -2.43.5

Source: Real Estate Institute of Australia (REIA)

Rental affordability

Proportion of median weekly family income required to rent a three bedroom house (%)Jun 19Mar 19Jun 18 Previous qtr % change Annual % change
Northern Territory 20.2 20.922.6-3.3 -10.6
Australia 23.8 25.0 24.1-4.8 -1.2

Source: Real Estate Institute of Australia (REIA)

Median house and unit prices

Median house sale price, three bedroom house, value ($)Jun 19Mar 19Jun 18 Previous qtr % change Annual % change
Darwin overall 500,000502,500 500,000 -0.50.0
Inner Darwin 650,000 660,000 700,000 -1.5-7.1
Darwin North East (Marrara) 635,000 565,000 500,000 12.427.0
Darwin North Coastal (Nightcliff) 580,000 580,000 575,000 0.00.9
Darwin North (Sanderson) 455,000 492,500 421,000 -7.68.1
Palmerston 450,000 445,000 425,000 1.15.9
Katherine 350,000 335,000 322,500 4.58.5
Tennant Creek 280,000 221,000275,000 26.71.8
Alice Springs 442,000 457,000 472,000 -3.30.0

Source: Real Estate Institute of Northern Territory (REINT)

Median unit / townhouse sale price, two bedroom unit, value ($)Jun 19Mar 19Jun 18 Previous qtr % change Annual % change
Darwin overall 325,000 314,255 382,000 3.4-14.9
Inner Darwin 330,000 330,000 398,750 0.0 -17.2
Darwin North East (Marrara) 250,000418,000 375,000 -40.2-33.3
Darwin North Coastal (Nightcliff) 350,000 309,750 360,000 13.0-2.8
Darwin North (Sanderson) 205,000 244,500 230,000 -16.2-10.9
Palmerston 306,000 274,500 333,500 11.5-8.2
Katherine 190,000220,000550,000 n/a n/a
Tennant Creek n/a430,000 n/a n/a n/a
Alice Springs 325,500 325,000 333,000 0.2-2.3

Source: Real Estate Institute of Northern Territory (REINT)

Median house and unit rental prices

Median house weekly rental, three bedroom house, value ($)Jun 19Mar 19Jun 18 Previous qtr % change Annual % change
Inner Darwin 510 563 578-9.3-11.7
Darwin North Coastal (Nightcliff) 450 455500-1.1-10.0
Darwin North East (Marrara) 438 425 4502.9 -2.8
Darwin North (Sanderson) 410 420 450 -2.4 -8.9
Palmerston 400 410 430 -2.4 -7.0
Katherine 425 420 420 1.21.2
Alice Springs 460 505 530-8.9-13.2

Source: Real Estate Institute of Northern Territory (REINT)

Median unit weekly rental, two bedroom unit, value ($)Jun 19Mar 19Jun 18 Previous qtr % change Annual % change
Inner Darwin 350 360 430 -2.8 -18.6
Darwin North Coastal (Nightcliff) 330 320 350 3.1 -5.7
Darwin North East (Marrara) 330 300 380 10.0-13.2
Darwin North (Sanderson) 300 300 340 0.0 -11.8
Palmerston 290 300 330 -3.3 -12.1
Katherine 300 310 315 -3.2 -4.8
Alice Springs 380 370 3902.7 -2.6

Source: Real Estate Institute of Northern Territory (REINT)

Last updated: 11 October 2019

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