NT Property Sector reports strong signs of recovery in housing and employment
The NT Property Sector is reporting strong signs of recovery in housing and employment in the Northern Territory.
The NT Property sector is reporting strong signs of recovery in housing and employment in the Northern Territory.
Property Council NT executive director Ruth Palmer said the latest NT Property sector quarterly report showed continued confidence in the Territory’s property and construction sectors, with steady growth across most key indicators and strong signs of recovery in housing and employment.
However Ms Palmer warned while building approvals, construction activity, rental demand, and employment were all up, the Territory lagged behind other jurisdictions in housing supply and population growth.
She said both Darwin and Alice Springs were experiencing pressures from limited stock and tight vacancies.
“It’s great to see activity on the up,” Ms Palmer said.
“We’re building more, employing more, and showing that confidence is returning to the Territory.”
Ms Palmer said the data made it clear the Territory couldn’t grow its economy without growing its population.
“We need more people living and working here, not just flying in and out,” she said.
“Converting FIFO workers into permanent Territorians is one of the biggest opportunities we have to boost our workforce, strengthen our housing market, and keep this momentum going.”
Key Findings from the June 2025 Quarter in the KPMG-produced NT Property Sector Report
•Construction activity increased 2.6 per cent year-on-year to $944 million, ranking the NT third nationally, despite a 2 per cent quarterly dip.
•Building approvals lifted 48 per cent year-on-year, reaching 121 new dwellings worth $69 million, driven by the NT Government’s Build Bonus Grant.
•Darwin median house prices rose to $600,000, up 6 per cent year-on-year, with unit prices at $405,000 (+4 per cent).
•Alice Springs saw a $47,500 drop in house prices to $487,500, and unit prices fell to $267,500 — but sales volumes increased by 12 per cent for houses, showing renewed activity in the market.
•Rental markets remain tight: Darwin house rents lifted to $669/week, and Alice Springs to $600/week, while unit rents in both centres remained steady.
•Vacancy rates tightened across the board, with Darwin falling from 3.3 per cent to 1.7 per cent, and Alice Springs from 2.9 per cent to 2.5 per cent.
•Employment rose 1.4 per cent, with full-time positions up 2.1 per cent, while the unemployment rate remains below the national average at 3.9 per cent.
•Property crime fell 9.8 per cent quarter-on-quarter, marking a modest but important improvement in community confidence.
“This report gives us real confidence the NT market is stabilising and that investor sentiment is improving,” Ms Palmer said.
“However, housing supply remains the biggest handbrake. The data shows Darwin still lags cities like Townsville and Geelong in housing approvals per capita and Alice Springs is grappling with a similar challenge.
“We need to move faster on housing delivery to support the workforce we’re trying to attract.”
The Enterprising Cities analysis in the report highlights the NT’s comparative disadvantage, showing Darwin’s housing approvals per 1000 residents were among the lowest in the nation, well behind regional growth centres such as Townsville, Cairns, and Newcastle.
“The message is clear, we’re heading in the right direction, but we’re not keeping up,” Ms Palmer said.
“Housing is the foundation for economic growth. Without enough homes, we can’t attract or retain the skilled workers we need to deliver our infrastructure and energy projects.”
The Property Council NT says the next phase of the Territory’s growth depends on a combined focus on population, housing, and workforce.
“We have the projects, the investment and the momentum, now we need the people,” Ms Palmer said.
“This means targeted migration, continued infrastructure investment, and housing policies that make it easy for workers and families to call the Territory home.
“If we can deliver that, the NT won’t just catch up — we’ll lead the way in sustainable regional growth.”
