Housing market

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

Building approvals

Original data, numberApr 20Mar 21Apr 21 Monthly % change Annual % change
Residential dwelling approvals 7616567-59.4-11.8
New houses 4116465-60.458.5
New dwellings (units)3402n/a-94.1
Other dwellings (includes alterations, additions and conversions) 110-100.0-1.0
Value ($ million) 46.3120.749.2-59.26.3
Residential 32.291.631.6-65.5-1.9
Non residential 14.129.117.6-39.425.0

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 -54.9 per cent and 110.9 per cent. In April 2021, building approvals decreased to 59.4 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.

Lending finance

Owner occupier, original dataMar 20Feb 21Mar 21Previous monthly % change Annual % change
Owner occupier      
Number of commitments 26035149240.289.2
- Total excluding refinancing 18825931521.667.6
First home buyer (owner occupier)891271313.147.2
Non first home buyer (excluding refinancing) 9913218439.485.9
Refinancing of established dwellings 8310417770.2113.3
Purpose     
New dwellings (including construction and new dwelling purchases) 216956-18.8166.7
Purchase of established dwelling (including refinancing) 14816723540.758.8
Total value, all types ($million)       
Including refinancing 9413518436.295.7
Excluding refinancing 6510112423.392.0

Source: ABS Cat No 5609

Dwelling commencements

Original dataDec 19Sep 20Dec 20 Previous qtr % change Annual % change
Number of commencements 13116028175.6114.5
Houses 10013117533.675.0
Other residential 2919100426.3244.8
Conversions 2107-30.0250.0

Source: ABS Cat No 8752

Housing loan affordability

Affordability indicatorDec 19Sep 20Dec 20 Previous qtr % change Annual % change
Northern Territory 46.447.145.8-2.8-1.3
Australia 28.229.528.7-2.71.8

Source: Real Estate Institute of Australia (REIA)

Rental affordability

Proportion of median weekly family income required to rent a three bedroom house (%)Dec 19Sep 20Dec 20 Previous qtr % change Annual % change
Northern Territory 21.221.122.46.25.7
Australia 23.6 23.8 24.00.81.7

Source: Real Estate Institute of Australia (REIA)

Median house and unit prices

Median house sale price, three bedroom house, value ($)Mar 20Dec 20Mar 21 Previous qtr % change Annual % change
Darwin overall 470,000500,000547,0009.416.4
Inner Darwin 650,000 655,000 722,500 10.311.2
Darwin North East (Marrara) 685,000 715,000 800,00011.916.8
Darwin North Coastal (Nightcliff) 515,000 565,000 595,000 5.315.5
Darwin North (Sanderson) 447,000 420,000 517,50023.215.8
Palmerston 425,000 465,000 500,000 7.517.6
Katherine 300,000 310,000 295,000 -4.8-1.7
Tennant Creek 195,000200,000230,000 15.017.9
Alice Springs 457,000 476,250 469,000 -1.52.6

Source: Real Estate Institute of Northern Territory (REINT)

Median unit / townhouse sale price, two bedroom unit, value ($)Mar 20Dec 20Mar 21 Previous qtr % change Annual % change
Darwin overall 302,750320,000 330,0003.19.0
Inner Darwin 358,500 333,500 340,000 1.9-5.2
Darwin North East (Marrara) 372,500 380,000 330,500-13.0-11.3
Darwin North Coastal (Nightcliff) 210,000305,000329,500 8.056.9
Darwin North (Sanderson) 217,500220,000 266,000 20.922.3
Palmerston 269,750 245,000 250,000 30.618.6
Katherine n/a190,000250,00031.6n/a
Tennant Creek 260,000 n/an/a n/a n/a
Alice Springs 327,000 358,500 360,000 0.410.1

Source: Real Estate Institute of Northern Territory (REINT)

Median house and unit rental prices

Median house weekly rental, three bedroom house, value ($)Mar 20Dec 20Mar 21 Previous qtr % change Annual % change
Inner Darwin 525680550-19.14.8
Darwin North Coastal (Nightcliff) 470 4905206.110.6
Darwin North East (Marrara) 50046059028.318.0
Darwin North (Sanderson) 40046054518.536.3
Palmerston 400 450 4888.321.9
Katherine 423440 400-9.1-5.3
Alice Springs 5105305300.03.9

Source: Real Estate Institute of Northern Territory (REINT)

Median unit weekly rental, two bedroom unit, value ($)Mar 20Dec 20Mar 21 Previous qtr % change Annual % change
Inner Darwin 400445440-1.110.0
Darwin North Coastal (Nightcliff) 330 350 3602.99.1
Darwin North East (Marrara) 320 350 3500.09.4
Darwin North (Sanderson) 300 350 340-2.913.3
Palmerston 300323330 2.310.0
Katherine 320 370 3833.419.5
Alice Springs 415405398-1.9-4.2

Source: Real Estate Institute of Northern Territory (REINT)


Last updated: 08 June 2021

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