Quentin Kilian reveals what the Northern Territory needs to do to be prosperous

As his time at the helm of the NT’s real estate industry ends, Quentin Kilian shares what the Territory must do to if it hopes to become prosperous.

TO steal from Lewis Carroll, “The time has come”, the Walrus said, “To talk of many things.”

Our family came to the Territory, for a 3-year contract in 1968, and like many before us, stayed put in this beautiful part of the world.

Over the past 50 years I’ve had the chance to travel widely and live in amazing cities across the globe but have always gravitated home.

However, opportunity has knocked, and I am answering.

So, after 19 years it’s time to make another move. And it’s a good opportunity to look back at the Territory and to crystal ball gaze at what might be coming.

The Territory economy has, for as long as I can remember, been beholden to boom and bust cycles due to it being largely a project driven economy without the safety net of a large manufacturing sub-base.

This was borne out in the housing market following the completion of the Inpex construction when we saw housing prices fall dramatically and property owners lost nearly a decade of capital growth.

Then came Covid and around the June quarter of 2020 we saw one of the largest recoveries in the property market we have ever had.

Who knew a global pandemic would have been a boon to our population and housing?

This upward trend in sales and pricing has continued through 2021 and the signs look positive for strong markets into 2022.

So where are we going? I may be an eternal optimist but if you look at the projects in the pipeline, which include a number of manufacturing opportunities and a very strong defence commitment, the future for the Territory looks pretty good.

Quentin Kilian will soon leave the Territory to become the top boss of real estate in Victoria. Picture: Che Chorley

It points to the possibility of strong population growth, which in turn means demand for housing and increased household spending, which gives support to retail and commercial growth.

But the one thing that could stymie all of this, and it’s something this government has proven they are incapable or unwilling to address, is red-tape and bureaucracy.

The Territory is burdened by perhaps the most ‘over employed’ public service in Australia, with each department seeming to want to justify its existence through a myriad of regulations. Nonsense like the Property Activation Levy which does nothing to stimulate retail or commercial growth in the city but instead simply impedes investment.

If the Territory is to achieve the status and growth that it now has the opportunity to do, then business must be given the freedoms to operate, and this comes through less regulation; less red tape; less bureaucracy.

With an abundance of gas coming from Beetaloo, the Territory has a unique opportunity to establish a large and varied manufacturing base across a broad range of products and industries and create a wealth of employment options.

This is an opportunity that must not be wasted by inaction or incompetence as it may never present itself in this way again.

Sadly, the mindset of many in power seems to be firmly on the appeasement of certain minority groups. The squeaky wheels. When the focus should be on the thousands of small businesses trying to grow; employ more people; turn around the economy.

These are the lifeblood and future of the Territory, not a cohort who add no economic contribution.

So, for my parting words as I head off to my next big adventure, I would use a phrase my Mum was fond of, “it’s time to put on your big boy pants and act like a grown up”.

It is time for those in power – of all persuasions – to work, plan, behave and operate in a manner that encourages investment; assists business growth; bolsters population growth; and shows they are unafraid to say no to those that want to drag the Territory backwards.

“The future belongs to those who believe in the beauty of their dreams.” (Eleanor Roosevelt)

I look forward to returning often to what I truly hope will be an amazing and vibrant part of the world.

Originally published as Quentin Kilian reveals what the Northern Territory needs to do to be prosperous