Why things are looking up in the NT
26 April 2021
Following a five-year reign of the “most depressed” property market the Northern Territory has seen in decades, which saw almost a decade of capital gains wiped away, the territory is showing signs of regaining its footing.
New figures from the Real Estate Institute of Northern Territory (REINT) have revealed a 10.8 per cent quarterly increase in residential house sales in the March quarter to 278, with year-on-year growth hitting an impressive 51.1 per cent.
Median house prices also saw solid gains, with three-bedroom homes witnessing a 9.4 per cent quarterly increase to $547,000 — a rise of 16.4 per cent on the year.