{{ propApi.closeIcon }}
Our industry
Our industry $vuetify.icons.faArrowRight
Housing industry insights Economics Insights Data & forecasts Tailored research and analysis Advocacy & policy Advocacy Policy priorities Position statements Submissions News and inspiration Industry news Member alerts Media releases HOUSING Online
Business support
Business support $vuetify.icons.faArrowRight
For your business Contracts Online Safety systems & solutions HIA Tradepass Advertise jobs Member perks Toyota vehicles The Good Guys Commercial Fuel savings See all Industry insurance HIA Insurance Services Construction works insurance Home warranty insurance Tradies & tool insurance Apprentices Why host a HIA apprentice? Hire an apprentice Support & guidance Contracts & compliance support Building & planning services
Resources & advice
Resources & advice $vuetify.icons.faArrowRight
Building it right Building codes Australian standards Getting it right on site See all Building materials & products Concrete, bricks & walls Getting products approved Use the right products for the job See all Managing your business Dealing with contracts Handling disputes Managing your employees See all Managing your safety Safety rules Working with silica See all Building your business Growing your business Maintaining your business See all Other subjects Getting approval to build Sustainable homes See all
Careers & learning
Careers & learning $vuetify.icons.faArrowRight
A rewarding career Become an apprentice Apprenticeships on offer How do I apply? Frequently asked questions Study with us Find a course to suit you Qualification courses Learning on demand Professional development courses A job in the industry Get your builder's licence Continuing Professional Development (CPD) Further your career Find jobs
HIA community
HIA community $vuetify.icons.faArrowRight
Join HIA Sign me up How do I become a member? What's in it for me? Mates rates Get involved Become an award judge Join a committee Partner with us Our initiatives HIA Building Women GreenSmart Kitchen, bathroom and design hub Get to know us Our members Our people Our partners Support for you Charitable Foundation Mental health program
Awards & events
Awards & events $vuetify.icons.faArrowRight
Awards Awards program People & Business Awards GreenSmart Australian Housing Awards Awards winners Regional Award winners Australian Housing Award winners 2024 Australian Home of the Year Enter online Industry events Events in the next month Economic outlook National Conference Events calendar
HIA shop
HIA shop $vuetify.icons.faArrowRight
Most popular products National Construction Code Vol 1 & 2 Waterproofing wet areas AS 3740:2021 HIA Guide to Waterproofing HIA Guide to NCC Livable Housing Provisions Top categories Building codes & standards Contracts & documents Guides & manuals Safety products Signage For your business Contracts Online Digital Australian Standards Digital Resource Library Forecasts & data
About Contact Newsroom
$vuetify.icons.faTimes
$vuetify.icons.faMapMarker Set my location Use the field below to update your location
Address
Change location
{{propApi.title}}
{{propApi.text}} {{region}} Change location
{{propApi.title}}
{{propApi.successMessage}} {{region}} Change location

$vuetify.icons.faPhone1300 650 620

Modest recovery expected for NT home building

Media release

Modest recovery expected for NT home building

Media release
“Home building activity in the Northern Territory is expected to pick up in 2024/25, following the weakest year on record for new home commencements,” stated HIA Executive Director, Luis Espinoza.

HIA released its Economic and Industry Outlook report recently. The report includes updated forecasts for new home building and renovations activity nationally and for each of the eight states and territories.

“The Northern Territory is estimated to have commenced construction on just 350 detached houses and 60 multi-units in 2023/24, the fewest since the ABS started this data series in 1984/85,” added Mr Espinoza.

“This year is expected to see an improvement on the back of strong but thus-far-unsatisfied demand for new homes.

“The Northern Territory has seen record inflows of overseas migrants, against a backdrop of low unemployment, elevated dwelling prices and acute shortages of rental accommodation. This will sustain underlying demands for new housing, even as population growth moderates.

“Public spending is being directed towards remote housing, new subdivisions are getting underway, and there is optimism locally of incoming government announcements to catalyse greater activity in the home building and renovations sectors.

“Home building in the Northern Territory has had a hard time sustaining momentum over the last decade. The end of the last mining boom marked the beginning of a steep and prolonged downturn, and the pandemic boom is well and truly in the rearview mirror.

“Underlying demands would support much greater home building volumes, if investors and owner occupiers could be more confident of the Northern Territory’s economic future.

“A major government or resources sector catalyst will be crucial to the next wave of sustainable development in the Northern Territory,” concluded Mr Espinoza.

Detached house: The Northern Territory commenced construction on just 80 detached houses in the first quarter of 2024, down by 11.8 per cent on the previous quarter and the weakest quarter in almost 50 years. This is forecast to bounce back to 110 in the June Quarter 2024, producing a financial year total of 350 in 2023/24, down by 32.7 per cent on the previous year and a new record low. A modest improvement from here is forecast, reaching 630 by 2027/28.

Multi-units: There were just five multi-units commencing construction in the Northern Territory in the March Quarter 2024, down from eight in the previous quarter, and a new record low for a quarter. This is expected to bounce back to 30 in the June Quarter, producing a financial year total of 60 in 2023/24, also a record low year. Commencements are forecast to improve modestly from here, up to 120 in 2024/25, and continuing to 340 by 2027/28.

Click here to download our HIA State and National Outlooks

For more information please contact:

Luis Espinoza

Executive Director – Northern Territory

Tim Reardon

HIA Chief Economist
Latest articles
View all news $vuetify.icons.faArrowRight
17 Sep
Free HIA financial literacy training for apprentices

It has become increasingly important for those participating in the building and construction industry to possess business skills.

17 Sep
Government infrastructure investment

This policy urges governments to fulfil their nation building obligations and spend more on key public urban infrastructure items to achieve both social and environmental savings for the whole community.

17 Sep
Corporate phoenixing

This policy sets out HIA's position relating to illegal corporate phoenixing and calls on government to define the practice and to have appropriate controls in place that do not unduly disadvantage businesses operating in good faith.

17 Sep
Principles of a good planning system

This policy sets out HIA's preferred approach to developing and implementing a planning systems that supports residential development and housing supply as an integral outcome. The policy identifies ten key elements of the planning system that should be addressed to achieve timely and cost effective housing supply.