The state government of the Northern Territory is currently in the process of identifying sites that could be redeveloped to build new property in Darwin.
Minister for lands, planning and the environment Peter Chandler noted that one of the areas that has been earmarked is Sports House at Fannie Bay.
It had previously been flagged as a potential site for housing redevelopment five years ago, but the plans were unsuccessful – it is hoped that the green light will be given this time around.
The site, which spans 1.45 hectares, is among several that are currently being considered in a bid to deliver better quality housing for those living in Darwin and the surrounding areas.
Latest data from the Australian Bureau of Statistics shows that there has been a significant rise in the cost of Darwin property over recent months.
In the year between December 2011 and December 2012, there was a 10.1 per cent increase in the price of established housing – the highest out of all the Australian states and territories.
Between the September and December quarters of last year property prices increased 2.6 per cent, which will no doubt be good news for anyone who has purchased real estate in Darwin.