Housing market

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

Building approvals

Original data, numberJan 19Dec 18Jan 18 Monthly % change Annual % change
Residential dwelling approvals 235157-54.9-59.6
New houses 233155-25.8-58.2
Other dwellings (includes alterations, additions and conversions) 002n/a-100.0
Value ($ million) 28.764.269.6-55.2-58.7
Residential 11.927.326.7-56.4-55.5
Non residential 16.836.942.9-54.4-60.7

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 111.1 per cent. In January 2019, building approvals decreased -54.9 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 dataJan 19Dec 18Jan 18 Monthly % change Annual % change
Type      
Number of commitments214246239-13.0-10.5
- Total excluding refinancing172195198-11.8-13.1
First home buyer608564-29.4-6.3
Non first home buyer (excluding refinancing)1121101341.816.4
Refinancing of established dwellings425141-17.62.4
Purpose     
New dwellings (including construction and new dwelling purchases)728992-19.1-21.7
Purchase of established dwelling (including refinancing)142157147-9.6-3.4
Total value, all types ($million)      
Excluding refinancing64.3372.8666.25-11.7-2.9
Including refinancing54.4155.6456.29-2.2-3.4

Source: ABS Cat No 5609

Dwelling commencements

Original dataSep 18Jun 18Sep 17 Previous qtr % change Annual % change
Number of commencements 21418043018.9-50.2
Houses 18515816617.111.4
Other residential 2814256100.0-89.1
Conversions 178-85.7-87.5

Source: ABS Cat No 8752

Housing loan affordability

Affordability indicatorDec 18Sep 18Dec 17 Previous qtr % change Annual % change
Northern Territory 51.547.847.97.77.5
Australia 32.032.131.6-0.31.3

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 17 Previous qtr % change Annual % change
Northern Territory 21.320.023.16.5-7.8
Australia 24.0 23.9 24.50.4-2.0

Source: Real Estate Institute of Australia (REIA)

Median house and unit prices

Median house sale price, three bedroom house, value ($)Dec 18Sep 18Dec 17Previous qtr % changeAnnual % change
Darwin overall 493,750497,500513,000-0.8-3.0
Inner Darwin 675,000707,500780,000-4.6-9.3
Darwin North East (Marrara) 630,000740,500695,000-14.96.5
Darwin North Coastal (Nightcliff) 555,000550,000555,0000.9-0.9
Darwin North (Sanderson) 485,000470,000502,5003.2-6.5
Palmerston 447,000450,000465,000-0.7-3.2
Katherine 312,000300,000360,0004.0-16.7
Tennant Creek 180,000166,250220,0008.3-24.4
Alice Springs 475,000474,500467,5000.11.5

Source: Real Estate Institute of Northern Territory (REINT)

Median unit / townhouse sale price, two bedroom unit, value ($)Dec 18Sep 18Dec 17Previous qtr % changeAnnual % change
Darwin overall 350,000352,500375,000-0.7-6.7
Inner Darwin 355,000380,000460,000-6.6-22.8
Darwin North East (Marrara) 332,500282,500292,00017.713.9
Darwin North Coastal (Nightcliff) 377,500365,000335,0003.412.7
Darwin North (Sanderson) 279,000275,000266,0001.54.9
Palmerston 287,000262,500267,5009.37.3
Katherine n/an/an/an/an/a
Tennant Creek n/an/an/an/an/a
Alice Springs 327,500320,000233,5002.340.3

Source: Real Estate Institute of Northern Territory (REINT)

Median house and unit rental prices

Median house weekly rental, three bedroom house, value ($)Dec 18Sep 18Dec 17Previous qtr % changeAnnual % change
Inner Darwin 550575580-4.3-5.2
Darwin North Coastal (Nightcliff) 4704504734.4-0.5
Darwin North East (Marrara) 470n/a495n/an/a
Darwin North (Sanderson) 410418450-1.8-8.9
Palmerston 400420440-4.8-9.1
Katherine 400420420-4.8-4.8
Alice Springs 520540450-3.715.6

Source: Real Estate Institute of Northern Territory (REINT)

Median unit weekly rental, two bedroom unit, value ($)Dec 18Sep 18Dec 17Previous qtr % changeAnnual % change
Inner Darwin 380395450-3.8-15.6
Darwin North Coastal (Nightcliff) 330350350-5.7-5.7
Darwin North East (Marrara) 3653603501.44.3
Darwin North (Sanderson)320330330-3.0-3.0
Palmerston 305320330-4.7-7.6
Katherine 3303203503.1-5.7
Alice Springs 390395372.50-1.34.7

Source: Real Estate Institute of Northern Territory (REINT)

Last updated: 20 March 2019