Housing market

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

Building approvals

Original data, numberOct 19Sep 20Oct 20 Monthly % change Annual % change
Residential dwelling approvals 259549-48.496.0
New houses 196446-28.1142.1
New dwellings (units)4260-100.0-100.0
Other dwellings (includes alterations, additions and conversions) 213200.0-100.0
Value ($ million) 65.466.345.1-32.1-31.1
Residential 26.239.925.6-36.0-2.5
Non residential 39.226.419.5-26.2-50.2

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 -52.4 per cent and 110.9 per cent. In October 2020, building approvals decreased to 48.4 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 dataOct 19Sep 20Oct 20 Monthly % change Annual % change
Owner occupier      
Number of commitments 2893723771.330.4
- Total excluding refinancing 1842562809.452.2
First home buyer (owner occupier)751141227.062.7
Non first home buyer (excluding refinancing) 10914215811.345.0
Refinancing of established dwellings 10511697-16.4-7.6
Purpose     
New dwellings (including construction and new dwelling purchases) 2150500.0138.1
Purchase of established dwelling (including refinancing) 1451862049.710.7
Total value, all types ($million)       
Including refinancing 93134131-1.941.2
Excluding refinancing 61941017.665.7

Source: ABS Cat No 5609

Dwelling commencements

Original dataJun 19Mar 20Jun 20 Previous qtr % change Annual % change
Number of commencements 1509214153.3-6.0
Houses 118849310.7 -21.2
Other residential 32543760.034.4
Conversions 13566.7400.0

Source: ABS Cat No 8752

Housing loan affordability

Affordability indicatorSep 19Jun 20Sep 20 Previous qtr % change Annual % change
Northern Territory 46.148.547.0-3.12.0
Australia 29.628.629.53.1-0.3

Source: Real Estate Institute of Australia (REIA)

Rental affordability

Proportion of median weekly family income required to rent a three bedroom house (%)Sep 19Jun 20Sep 20 Previous qtr % change Annual % change
Northern Territory 19.120.221.25.011.0
Australia 23.5 23.3 23.71.70.9

Source: Real Estate Institute of Australia (REIA)

Median house and unit prices

Median house sale price, three bedroom house, value ($)Sep 19Jun 20Sep 20 Previous qtr % change Annual % change
Darwin overall 450,000 477,500480,0000.54.3
Inner Darwin 770,000 701,000 660,000 -5.8-14.3
Darwin North East (Marrara) 940,000 550,000 541,250 -1.6-42.4
Darwin North Coastal (Nightcliff) 520,000 575,000 530,000 -7.81.9
Darwin North (Sanderson) 438,750 440,000 492,50011.912.3
Palmerston 406,250 442,000 412,500 -6.71.5
Katherine 320,000 349,000 310,000 -11.2-3.1
Tennant Creek 120,000310,000262,500 -15.3118.8
Alice Springs 455,000 471,500 450,000 -4.6-1.1

Source: Real Estate Institute of Northern Territory (REINT)

Median unit / townhouse sale price, two bedroom unit, value ($)Sep 19Jun 20Sep 20 Previous qtr % change Annual % change
Darwin overall 294,000280,000 300,0007.12.0
Inner Darwin 300,000 330,000 336,000 1.812.0
Darwin North East (Marrara) 440,000 270,000 305,00013.0-30.7
Darwin North Coastal (Nightcliff) 300,000277,500295,000 6.3-1.7
Darwin North (Sanderson) 253,500 242,000 305,000 26.020.3
Palmerston 239,250 230,000 257,500 12.07.6
Katherine n/a260,000310,00019.2n/a
Tennant Creek n/a n/an/a n/a n/a
Alice Springs 327,000 337,500 300,000 -11.1-8.3

Source: Real Estate Institute of Northern Territory (REINT)

Median house and unit rental prices

Median house weekly rental, three bedroom house, value ($)Sep 19Jun 20Sep 20 Previous qtr % change Annual % change
Inner Darwin 49048055014.612.2
Darwin North Coastal (Nightcliff) 480 450 4500.0-6.3
Darwin North East (Marrara) n/a550530-4.0n/a
Darwin North (Sanderson) 400390 4207.75.0
Palmerston 400 390 4259.06.3
Katherine 425400 44010.03.5
Alice Springs 5205055305.01.9

Source: Real Estate Institute of Northern Territory (REINT)

Median unit weekly rental, two bedroom unit, value ($)Sep 19Jun 20Sep 20 Previous qtr % change Annual % change
Inner Darwin 3604004000.011.1
Darwin North Coastal (Nightcliff) 325 320 3303.11.5
Darwin North East (Marrara) 330 340 335-1.51.5
Darwin North (Sanderson) 320 320 3200.00.0
Palmerston 290298320 7.410.3
Katherine 305 350 3500.014.8
Alice Springs 4204004000.0-4.8

Source: Real Estate Institute of Northern Territory (REINT)

Last updated: 13 January 2021

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