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
112 Residential Property Markets 2013-14 Budget Source: REINT The median rental price for two-bedroom units also increased substantially over 2012. In Darwin and Palmerston, REINT reports that the median rental price for a two-bedroom unit increased by 14.3percent annually, from $413 in December2011 to $472 in December2012 (Chart 9.11). Increases were fairly consistent across most areas within Darwin and Palmerston, with REINT reporting annual increases of 14.1percent in inner Darwin, 14.4percent in the Darwins northern suburbs and 14.7percent in Palmerston. In Katherine, REINT reports that the median two-bedroom unit rental price also increased substantially in 2012, up by 10.6percent from $283 in December2011 to $313 in December2012. Rental prices for two-bedroom units in AliceSprings were relatively flat, increasing by 0.3percent from $397 to $398 over the same period. Source: REINT The Real Estate Institute of Australia (REIA) reports that as at December2012, Darwin had the second highest median house price of the capital cities at $578000, behind Sydney at $646000 (Chart9.12). In the Decemberquarter2012, Darwin unit prices were ranked third most expensive at $430000, behind Sydney ($475300) and Melbourne ($465000). Chart 9.10: Territory Median Three-Bedroom House Weekly Rental Prices (quarterly data) 0 100 200 300 400 500 600 700 03 04 05 06 07 08 09 10 11 12 Darwin and Palmerston Alice Springs Katherine Calendar year $ Chart 9.11: Territory Median Two-Bedroom Unit Weekly Rental Prices (quarterly data) 0 100 200 300 400 500 03 04 05 06 07 08 09 10 11 12 Darwin and Palmerston Alice Springs Katherine Calendar year $ Interstate Comparison