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Building Levels Remain High in NT

Housing building levels have remained high in the Northern Territory, according to the Housing Industry Association (HIA).

This is good news for anyone contemplating purchasing property in Darwin as more houses may soon be available.

More houses were approved in September 2013 than the year before, and the volume of approvals was 14.3 per cent higher than the volume from the previous 12 months.

This is a good sign for residential construction over the rest of the year, according to HIA Executive Director of the Northern Territory, Robert Harding.

Growth rates have stabilised from the fast pace seen in 2012, he said. The construction of 8,278 houses was approved in September, according to data released by the Bureau of Statistics.

Private sector houses have seen an increase in the trend estimate of 0.5 per cent in September. The trend estimate has risen for the past 10 months.

Those looking at getting a leg up the property ladder and purchasing real estate in Darwin might benefit from this increase in building activity.

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