The Australian Bureau of Statistics released figures earlier this month that highlighted the rising degree of new home lending being seen across the nation, which could be fantastic news if you're looking into buying or constructing real estate in Darwin.
Over the three months to July, lending for both new homes and construction projects increased by 1.9 per cent. However, when compared to the same period last year, these figures are now up 8.8 per cent.
Housing Industry Association economist Diwa Hopkins said that lending also increased significantly for investors, with the three months to July seeing these loans increase by 10.5 per cent when compared to the same period 12 months earlier.
"Today's figures show that current credit conditions are having the desired impact on residential construction, with both investors and owner occupiers taking advantage of the favourable conditions to add to Australia's stock of housing, which will aid housing affordability across the spectrum of the housing market," said Ms Hopkins in a 9 September statement.
Now could be a great time to consider buying property in Darwin, especially with rising population figures expected to boost the national economy over the coming months.