Housing market

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

Building approvals

Original data, NumberJun 18May 18Jun 17 Monthly % Change Annual % Change
Residential dwelling approvals 7069611.414.8
New houses 576154-6.65.6
Other dwellings (includes alterations, additions and conversions) 052-100.0n/a
Value ($ million) 108.665.777.265.340.7
Residential 35.131.729.910.717.3
Non residential 73.534.047.3116.455.6

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% and the maximum 467.9%; typically building approvals growth ranges between -52.7% and 111.1%. In June 2018, monthly building approvals decreased to 1.4%.Building approvals - YoY data: Year on year building approvals growth has been declining for the past two years, after a period of strong growth.

Housing finance

Original dataMay 18Apr 18May 17 Monthly % Change Annual % Change
Total number of home buyers financed 272.0247.0 297.0 10.1-8.4
Total value of housing finance ($ million) 95.580.386.518.910.5
Number of first home buyers financed 62.050.050.024.024.0
First home buyer average loan size (000's) 297.4320.8329.1-7.3-9.6
Number of non first home buyers financed 210.0197.0247.06.6 -15.0
Non first home buyer average loan size (000's) 367.1326.4283.512.529.5
Average loan size (000's) 351.2325.2291.18.020.6
Construction of dwelling 325.4282.9265.215.022.7
Purchase of new dwelling 256.8251.5397.32.1-35.4
Purchase of established dwelling 361.4330.8292.89.323.4

Source: ABS Cat No 5609

Dwelling commencements

Original dataMar 18Dec 17Mar 17 Previous Qtr % Change Annual % Change
Number of commencements 173177211-2.3-18.0
Houses 132148149-10.8 -11.4
Other residential 30245825.0-48.3
Conversions 1143175.0266.7

Source: ABS Cat No 8752

Housing loan affordability

Affordability indicatorMar 18Dec 17Mar 17 Previous qtr % change Annual % change
Northern Territory 50.447.947.45.26.3
Australia 31.931.6 32.90.9-3.0

Source: Real Estate Institute of Australia (REIA)

Rental affordability

Proportion of median weekly family income required to rent a three bedroom house (%)Mar 18Dec 17Mar 17 Previous qtr % change Annual % change
Northern Territory 22.523.123.7-2.6 -5.1
Australia 24.8 24.5 24.71.20.4

Source: Real Estate Institute of Australia (REIA)

Median house and unit prices

Median house sale price, three bedroom house, value ($)Jun 18Mar 18Jun 17Previous Qtr % ChangeAnnual % Change
Darwin overall 500,000505,000540,000-1.0-6.5
Inner Darwin 700,000687,500800,0001.8-14.1
Darwin North East (Marrara) 500,000580,000710,000-13.8-18.3
Darwin North Coastal (Nightcliff) 575,000560,000615,0002.7-8.9
Darwin North (Sanderson) 421,000451,500520,000-6.8-13.2
Palmerston 425,000450,000460,000-5.6-2.2
Katherine 322,500310,000340,0004.0-8.8
Tennant Creek 275,000151,000222,50082.1-32.1
Alice Springs 472,000467,000430,0001.18.6

Source: Real Estate Institute of Northern Territory (REINT)

Median unit / townhouse sale price, two bedroom unit, value ($)Jun 18Mar 18Jun 17Previous Qtr % ChangeAnnual % Change
Darwin overall 382,000347,500470,0009.9-18.7
Inner Darwin 398,750410,000527,500-2.7-24.4
Darwin North East (Marrara) 375,000323,500378,50015.9-0.9
Darwin North Coastal (Nightcliff) 360,000310,000390,00016.1-7.7
Darwin North (Sanderson) 230,000340,000335,000-32.4-31.3
Palmerston 333,500274,000345,00021.7-3.3
Katherine 550,000n/a270,000n/an/a
Tennant Creek n/a171,500n/an/an/a
Alice Springs 333,000325,000288,5002.515.4

Source: Real Estate Institute of Northern Territory (REINT)

Median house and unit rental prices

Median house weekly rental, three bedroom house, value ($)Jun 18Mar 18Jun 17Previous Qtr % ChangeAnnual % Change
Inner Darwin 5785606003.1-3.8
Darwin North Coastal (Nightcliff) 5004954801.04.2
Darwin North East (Marrara) 4504404502.30.0
Darwin North (Sanderson) 4504504500.00.0
Palmerston 430440440-2.3-2.3
Katherine 4204104202.40.0
Alice Springs 5305005006.06.0

Source: Real Estate Institute of Northern Territory (REINT)

Median unit weekly rental, two bedroom unit, value ($)Jun 18Mar 18Jun 17Previous Qtr % ChangeAnnual % Change
Inner Darwin 420430430-2.3-2.3
Darwin North Coastal (Nightcliff) 3503503500.00.0
Darwin North East (Marrara) 373380370-2.00.7
Darwin North (Sanderson) 330340350-2.9-5.7
Palmerston 315330330-4.5-4.5
Katherine 35031533011.16.1
Alice Springs 4003903802.65.3

Source: Real Estate Institute of Northern Territory (REINT)

Last updated: 14 August 2018