Housing market

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

Building approvals

Original data, numberJan 20Dec 20Jan 21 Monthly % change Annual % change
Residential dwelling approvals 177031-55.782.4
New houses 146325-60.378.6
New dwellings (units)2660.0200.0
Other dwellings (includes alterations, additions and conversions) 110-100.0-100.0
Value ($ million) 23.270.428.9-59.024.6
Residential 14.331.818.0-43.525.8
Non residential 8.938.610.9-71.722.7

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 January 2021, building approvals decreased to 55.7 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 dataJan 20Dec 20Jan 21Previous monthly % change Annual % change
Owner occupier      
Number of commitments 238372315-15.332.4
- Total excluding refinancing 153264227-14.048.4
First home buyer (owner occupier)5799990.073.7
Non first home buyer (excluding refinancing) 96165128-22.433.3
Refinancing of established dwellings 9812488-29.0-10.2
Purpose     
New dwellings (including construction and new dwelling purchases) 256662-6.1148.0
Purchase of established dwelling (including refinancing) 115182143-21.424.3
Total value, all types ($million)       
Including refinancing 89144116-19.630.7
Excluding refinancing 5610589-15.558.1

Source: ABS Cat No 5609

Dwelling commencements

Original dataSep 19Jun 20Sep 20 Previous qtr % change Annual % change
Number of commencements 153148137-7.4-10.5
Houses 1159812224.56.1
Other residential 32456-86.7-81.3
Conversions 651010066.7

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 ($)Dec 19Sep 20Dec 20 Previous qtr % change Annual % change
Darwin overall 460,065480,000500,0004.28.7
Inner Darwin 725,000 660,000 655,000 -0.8-9.7
Darwin North East (Marrara) 717,500 541,250 715,000 32.1-0.3
Darwin North Coastal (Nightcliff) 522,000 530,000 565,000 6.68.2
Darwin North (Sanderson) 430,000 492,500 420,000 -14.7-2.3
Palmerston 430,000 412,500 465,000 12.78.1
Katherine 297,500 310,000 310,000 0.04.2
Tennant Creek 150,000262,500 200,000-23.833.3
Alice Springs 450,000 450,000 476,250 5.85.8

Source: Real Estate Institute of Northern Territory (REINT)

Median unit / townhouse sale price, two bedroom unit, value ($)Dec 19Sep 20Dec 20 Previous qtr % change Annual % change
Darwin overall 305,000300,000320,000 6.74.9
Inner Darwin 335,000 336,000 333,500 -0.7-0.4
Darwin North East (Marrara) 440,000 305,000380,000 24.6-13.6
Darwin North Coastal (Nightcliff) 266,250295,000 305,0003.414.6
Darwin North (Sanderson) 202,000230,000 220,000 -4.38.9
Palmerston 239,000 257,500 245,000 -4.92.5
Katherine n/a310,000190,000-38.7n/a
Tennant Creek n/an/a n/a n/a n/a
Alice Springs 304,500 300,000 358,500 19.517.7

Source: Real Estate Institute of Northern Territory (REINT)

Median house and unit rental prices

Median house weekly rental, three bedroom house, value ($)Dec 19Sep 20Dec 20 Previous qtr % change Annual % change
Inner Darwin 55055068023.623.6
Darwin North Coastal (Nightcliff) 455 450 4908.97.7
Darwin North East (Marrara) 503530460-13.2-8.5
Darwin North (Sanderson) 450 4204609.52.2
Palmerston 400 4254505.912.5
Katherine 450 4404400.0-2.2
Alice Springs 5355305300.0-0.9

Source: Real Estate Institute of Northern Territory (REINT)

Median unit weekly rental, two bedroom unit, value ($)Dec 19Sep 20Dec 20 Previous qtr % change Annual % change
Inner Darwin 40040044511.311.3
Darwin North Coastal (Nightcliff) 330 330 350 6.16.1
Darwin North East (Marrara) 340 335 3504.52.9
Darwin North (Sanderson) 300 320 350 9.416.7
Palmerston 320320 3230.80.8
Katherine 330 350 370 5.712.1
Alice Springs 4004004051.31.3

Source: Real Estate Institute of Northern Territory (REINT)

Last updated: 12 March 2021

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