In an effort to subdue rising house prices, the NT Government has issued a land release program to assist homeowners as the market shifts towards high investor activity.
Last year, 935 titles were released, up by 38% from 2013’s 677. Minister for Lands and Planning Peter Chandler believes that it is necessary to assist homeowners and help alleviate living standards as the housing market is dominated by home investors.
The land release program has produced almost 6,000 dwellings in the Greater Darwin area alone in just over 2 years. This initiative is encouraging activity in the housing sector, as more houses are being built and more jobs are created to accommodate the overmatched homeowners in the property sector.
Read more about this on the Property Observer website.
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