Budget 2013/14 Northern Territory Economy
Tabled paper 295
Tabled papers for 12th Assembly 2012 - 2016; Tabled papers; ParliamentNT
Tabled by David Tollner
Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.
Department of the Treasury and Finance
Residential Property Markets 107 Northern Territory Economy Source: NT Data In contrast to the decline in rental availability observed in Darwin and Palmerston, the number of both houses and units listed for rent in AliceSprings increased over 2012. In AliceSprings the average weekly number of houses listed for rent increased from 35 in 2011 to 45 in 2012 (Chart 9.5). Source: NT Data Property Prices Dwelling price data is sourced from the Real Estate Institute of the NorthernTerritorys (REINT) publications. Changes in median prices reflect sales concluded in a period and also include the influence of changes in the composition of stock, such as size, quality, location and age. As a result, reported median house price growth does not represent the change in price for an individual property over time. In the December quarter 2012, REINT reports that the median prices of houses sold in the Territory ranged from $260000 in TennantCreek to $578000 in Darwin and Palmerston. Darwin and Palmerston, and Tennant Creek recorded increases in median price compared with the Decemberquarter2011, while Katherine and AliceSprings recorded declines of 4.3percent and 2.6percent, respectively (Chart9.6). Chart 9.4: Palmerston Weekly Rental Listings (three-month moving average) 0 50 100 150 200 07 08 09 10 11 12 13 Number Units Houses Year ended June Chart 9.5: Alice Springs Weekly Rental Listings (three-month moving average) 0 10 20 30 40 50 60 70 80 90 100 110 07 08 09 10 11 12 13 Number Houses Year ended June Units House Prices by Region