The Northern Territory has remained one of the safest places in the country for real estate investment amid the COVID-19 outbreak, according to the latest market report by Herron Todd White (HTW). Which areas of the territory are most in demand by potential buyers?
Demand in the territory's four most popular hotspots is determined by price, three in Darwin and one in Alice Springs, according to HTW.
Zuccolli, located east of Palmerston, is one of the must-see destinations for shoppers. The lots of houses and land in this location have price tags ranging from $ 400,000 to $ 600,000.
Northcrest in central Darwin and Muirhead are also popular among shoppers. The price in these two regions ranges from $ 600,000 to $ 850,000.
In Alice Springs, Kilgariff is the main destination for shoppers. Located on the south side of town between the airport and town, Kilgariff has a price range of $ 500,000 to $ 700,000.
Will Johnson, Northern Territory Director at HTW, said the Territory government offers some of the most lucrative support programs to potential buyers.
"A construction bonus of $ 20,000 is currently offered for the purchase or construction of a new home. This offer was first offered in February 2019 because, at that time- there the market was rather weak and the adoption of new homes was slow, "he said.
This complements the federal government's HomeBuilder program and the Territory's First Home Ownership Grant. The Northern Territory also offers the Territory Home Owner's Reduction, which reduces the stamp duty for the purchase of the property.
"The positive activity in the existing market and government incentives on housing and land lots will drive our market through Christmas," Johnson said.
Top suburbs:
miller
,
coburg north
,
melton
,
Keperra
,
new farm
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