Housing market

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

Building approvals

Original data, NumberJul 18Jun 18Jul 17 Monthly % Change Annual % Change
Residential dwelling approvals 82705417.151.9
New houses 73574828.152.1
Other dwellings (includes alterations, additions and conversions) 102n/a-50.0
Value ($ million) 76.2108.662.8-29.821.4
Residential 45.435.127.429.365.6
Non residential 30.873.535.4-58.1-12.9

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 -52.7 per cent and 111.1 per cent. In June 2018, building approvals decreased to 1.4 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

Original dataJun 18May 18Jun 17 Monthly % Change Annual % Change
Total number of home buyers financed 264.0273.0 309.0 -3.3-14.6
Total value of housing finance ($ million) 85.395.9100.2-11.1-14.9
Number of first home buyers financed 64.063.071.01.6-9.9
First home buyer average loan size (000's) 330.8298.9326.010.71.5
Number of non first home buyers financed 200.0210.0238.0-4.8 -16.0
Non first home buyer average loan size (000's) 320.5367.1323.6-12.7-1.0
Average loan size (000's) 323.0351.3324.1-8.1-0.3
Construction of dwelling 275.6326.9309.4-15.7-10.9
Purchase of new dwelling 480.8256.8254.087.289.3
Purchase of established dwelling 327.1361.4329.1-9.5-0.6

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: 11 September 2018