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Housing Finance Commitments Increase in NT

The Northern Territory has seen a jump in housing finance commitments over the 12 months to August.

Latest government figures show the number of investors and first home buyers who obtained housing finance increased by 7.1 per cent to 4,379, indicating the region is heading in the right direction, according to Treasurer David Tollner.

This is good news for those looking at selling property in Darwin as the increased number of buyers in the region means the housing market is improving.

Throughout the year to August 2013 the number of first home buyers committing to housing finance increased by 1.5 per cent up to 869.

An additional 2,230 non-first home buyers made housing finance commitments, excluding those who have refinanced. This means the number of buyers looking to buy a home has increased by 11.7 per cent.

On top of these figures, 3,840 others have committed to purchasing established dwellings, marking an increase of 6.7 per cent.

"Last week we had the news that the Northern Territory has recorded in June the highest quarterly level of building activity on record and today’s good news is further proof of our strong economic position," said Mr Tollner.

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