Housing confidence and finance commitments are growing steadily in the Northern Territory, with the government recently committing to continue assisting property buying.
The latest House Price Index has noted increased confidence in the greater Darwin property market, according to treasurer David Tollner who said these numbers are reflective of the strong demand being seen.
“An audit of government land has so far identified 70 sites across the Territory with the potential for more than 2,700 dwellings,” Mr Tollner said.
Housing finance commitments are also on the rise. During 2012/13 housing finance commitments increased by 8.7 per cent to 4,342, compared to 3.3 per cent nationally. Excluding refinancing, housing commitments grew by 13.1 per cent.
First home buyers were also jumping in over the period, with commitments for these purchasers increasing by 9.8 per cent, and non first time buyers jumping by 14.6 per cent.
“These figures speak for themselves, and as a government we will continue to support Territorians who are wishing to get into the property market and ease the rental situation,” Mr Tollner said.
Reproduced in full with permission: Smart Property Investing NT Property market on the up 8 August 2013
Attention: This article is intended to provide general information only. Every attempt has been made to ensure the accuracy of this information at the date of publication. The opinions expressed in this article do not reflect those of DHA, its staff or agents. Property prices are subject to fluctuation. Prospective investors should seek independent advice. DHA will not be liable for any loss, damage, cost or expenses incurred or arising by reason of any person relying on information in this article.