Housing market

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

Building approvals

Original data, numberMar 18Feb 18Mar 17 Monthly % Change Annual % Change
Residential dwelling approvals 63575910.56.8
New houses 4949420.016.7
Other dwellings (includes alterations, additions and conversions) 146-75.0-83.3
Value ($ million) 114.560.475.489.451.8
Residential 29.431.429.9-6.6-1.7
Non residential 85.129.045.5193.586.9

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% and the maximum 467.9%; typically building approvals growth ranges between -52.7% and 111.1%. In February 2018, monthly building approvals remained unchanged.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 dataFeb 18Jan 17Feb 17 Monthly % Change Annual % Change
Total number of home buyers financed 268.0239.0 279.0 12.1-3.9
Total value of housing finance ($ million) 86.966.281.131.17.1
Number of first home buyers financed 52.064.041.0-18.826.8
First home buyer average loan size (000's) 296.7251.1317.618.2-6.6
Number of non first home buyers financed 216.0175.0238.023.4 -9.2
Non first home buyer average loan size (000's) 330.7286.7286.115.315.6
Average loan size (000's) 324.1277.2290.716.911.5
Construction of dwelling 266.3205.4241.829.610.1
Purchase of new dwelling 289.0412.8283.3-30.02.0
Purchase of established dwelling 334.2291.1294.514.813.5

Source: ABS Cat No 5609

Dwelling commencements

Original dataDec 17Sep 17Dec 16 Previous Qtr % Change Annual % Change
Number of commencements 167430338-61.2-50.6
Houses 142166233-14.5 -39.1
Other residential 21256103-91.8-79.6
Conversions 482-50.0100.0

Source: ABS Cat No 8752

Housing loan affordability

Affordability indicatorDec 17Sep 17Dec 16 Previous qtr % change Annual % change
Northern Territory 47.951.646.2-7.23.7
Australia 31.6 33.0 32.9-4.2-4.0

Source: Real Estate Institute of Australia (REIA)

Rental affordability

Proportion of median weekly family income required to rent a three bedroom house (%)Dec 17Sep 17Dec 16 Previous qtr % change Annual % change
Northern Territory 23.122.724.51.8 -5.7
Australia 24.5 24.6 24.4-0.40.4

Source: Real Estate Institute of Australia (REIA)

Median house and unit prices

Median house sale price, three bedroom house, value ($)Dec 17Sep 17Dec 16Previous qtr % changeAnnual % change
Darwin overall 513,000495,000516,2503.6-4.1
Inner Darwin 780,000760,000720,0002.65.6
Darwin North East (Marrara) 695,000675,000590,0003.014.4
Darwin North Coastal (Nightcliff) 555,000615,000566,250-9.88.6
Darwin North (Sanderson) 502,500461,500515,0008.9-10.4
Palmerston 465,000460,000475,0001.1-3.2
Katherine 360,000310,000290,00016.16.9
Tennant Creek 220,000282,500191,000-22.147.9
Alice Springs 467,500476,500475,000-1.90.3

Source: Real Estate Institute of Northern Territory (REINT)

Median unit / townhouse sale price, two bedroom unit, value ($)Dec 17Sep 17Dec 16Previous qtr % changeAnnual % change
Darwin overall 375,000405,000480,000-7.4-21.9
Inner Darwin 460,000465,833528,329-1.3-12.9
Darwin North East (Marrara) 292,000550,000550,000-46.9-46.9
Darwin North Coastal (Nightcliff) 335,000310,000459,0008.1-27.0
Darwin North (Sanderson) 266,000315,000285,000-15.6-6.7
Palmerston 267,500325,000390,000-17.7-31.4
Katherine n/a320,000282,500n/an/a
Tennant Creek n/an/a160,000n/an/a
Alice Springs 233,500320,000315,000-27.0-25.9

Source: Real Estate Institute of Northern Territory (REINT)

Median house and unit rental prices

Median house weekly rental, three bedroom house, value ($)Dec 17Sep 17Dec 16Previous qtr % changeAnnual % change
Inner Darwin 580590580-1.70.0
Darwin North Coastal (Nightcliff) 473480500-1.6-5.5
Darwin North East (Marrara) 49544051012.5-2.9
Darwin North (Sanderson) 4504504880.0-7.7
Palmerston 4404304702.3-6.4
Katherine 420430420-2.30.0
Alice Springs 450515490-12.6-8.2

Source: Real Estate Institute of Northern Territory (REINT)

Median unit weekly rental, two bedroom unit, value ($)Dec 17Sep 17Dec 16Previous qtr % changeAnnual % change
Inner Darwin 4504304654.7-3.2
Darwin North Coastal (Nightcliff) 3503503700.0-5.4
Darwin North East (Marrara) 350385380-9.1-7.9
Darwin North (Sanderson) 330340350-2.9-5.7
Palmerston 3303253501.5-5.7
Katherine 3503503400.02.9
Alice Springs 3733703600.73.5

Source: Real Estate Institute of Northern Territory (REINT)

Last updated: 11 May 2018