Budget 2013/14 Northern Territory Economy
Tabled paper 295
Tabled papers for 12th Assembly 2012 - 2016; Tabled papers; ParliamentNT
Tabled by David Tollner
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Department of the Treasury and Finance
108 Residential Property Markets 2013-14 Budget Source: REINT The Darwin and Palmerston overall median of $578000 in the Decemberquarter2012 represents an increase of 12.0percent compared with the Decemberquarter2011. Within Darwin and Palmerston, inner Darwin recorded the strongest growth, with a median price of $875000 in the December quarter 2012, up by 15.4percent compared with the same period last year. Median house prices also increased substantially in Darwins northern suburbs and in Palmerston, up by 14.9percent and 11.5percent, respectively (Chart 9.7). The substantial increase in Darwin and Palmerston median house prices in 2012 reflects increased demand for housing as population and employment growth strengthened after the commencement of several major projects, increased confidence in the Territorys property markets and a number of interest rate cuts since late 2011. Source: REINT Chart 9.6: Territory Median House Prices by Region (quarterly data) 0 100 200 300 400 500 600 03 04 05 06 07 08 09 10 11 12 Calendar year Darwin and Palmerston Alice Springs Katherine Tennant Creek $(000) Chart 9.7: Darwin and Palmerston Median House Prices by Subregion (quarterly data) 0 100 200 300 400 500 600 700 800 900 03 04 05 06 07 08 09 10 11 12 Calendar year Inner Darwin Northern suburbs Palmerston $(000)
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