First homeowners flocking to handful of NT suburbs for best buys: Report
A NEW real estate report has identified a handful of Northern Territory suburbs that are experiencing a surge in buyer interest amid a suite of government incentives for first homeowners.
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A NEW real estate report has identified a handful of Northern Territory suburbs that are experiencing a surge in buyer interest amid a suite of government incentives for first homeowners.
The Herron Todd White October month in review report found Zuccoli, Northcrest and Muirhead in the greater Darwin area and Kilgariff in Alice Springs are attracting a substantial share of buyers in the NT property market, as the sites of major subdivisions.
“With the addition of the extra federal government incentive of $25,000 … there has been heightened activity in these subdivisions,” the report stated.
“The issue facing the (NT) market now is the availability of titled land for which a land contract and building contract can be executed.
“We are seeing in the marketplace that there’s a premium attached to the brand new product compared to second-hand, due to the incentives … which are applied for first homeowners.”
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Herron Todd White Darwin director Terry Roth said while residential sales in Darwin were strong across the board, these suburbs had experienced a particular uptick in interest because of the “very generous government incentives for building at the moment”, which could total up to $60,000 in the NT.
“That’s really stimulated market demand in these particular areas … because they are where the major land supplies are,” he said.
“While in most established suburbs there are some infill blocks, most of the available land is in these areas.”
Elders Real Estate Palmerston sales representative Sue Cox said Zuccoli, a suburb in the southeast of the satellite city, was a highly attractive area for first homeowners.
“It’s new, it’s very modern, it’s low maintenance. There are some great parks, some services … some brand new schools, and it’s only a hop, skip and a jump to the main arterial roads to get to Darwin or Casuarina,” she said.
“It also has variety – the Aspire estate has smaller blocks, then there are more traditional sized blocks in other areas.”
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“Eventually it will be the biggest suburb in Palmerston … I believe it will have about 2000 residents once fully developed.”
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