Those who are interested in developing or investing in real estate in Darwin are set to benefit from an expanded housing market in the Northern Territory.
Minister for Housing Peter Chandler announced on August 22 that increasing the supply of homes in the territory remains a key priority for the government, and developments are well under way.
"As promised we are releasing land for development to get building under way and increase the supply of homes," he said.
"As more houses and rentals go on to the market the heat will go out of rising prices and improve the cost of living for Territorians."
The government has identified over 70 sites around the territory which will provide space for at least 2,700 new homes, according to Mr Chandler.
He added that utilities such as power and water lines have already been introduced to the sites.
All in all, the government aims to release sufficient land to build 2,000 new homes in four years and has said that the first half of them are now ready for development.
The government's policies will be great news for anyone with interests in property in Darwin, as the local housing sector is set to receive a massive boost.