The month in review: Darwin
By Herron Todd White
November, 2009
As highlighted in our discussion of the commercial focus
on infrastructure, the issue of scale also needs to anchor
any discussion to enable us to understand the impact of
infrastructure on the Darwin and Palmerston residential
markets.
Currently the “big ticket” infrastructure item in the
Darwin region is the major extension of Tiger Brennan
Drive between Palmerston and Darwin which is currently
dominating the transport infrastructure scene. This
much needed extension will address several transport
bottlenecks currently affecting heavy road transport,
rail and everyday commuter traffic. Once complete the
extension will facilitate improved commuter traffic flows
and reduce drive time between the Darwin rural area,
Palmerston and the city.
The positive flow on effects of this major infrastructure
upgrade will be numerous; Palmerston is currently
expanding and will have four new suburbs within
the next five years - Bellamack, Johnston, Zuccoli and
Mitchell. Fast tracking by the NT Government to address
chronic land release shortfalls will see an average of 600
land allotments being released within these suburbs over
the next three to four years. Tiger Brennan Drive will be
integral to accommodate the increased commuter traffic
that will result.
With the potential for improved commuter time between
Palmerston and Darwin, the adjoining rural residential
locations of Virginia, Bees Creek, Howard Springs,
Girraween, Humpty Doo and Herbert should also benefit.
In recent years these rural locations have experienced
strong capital growth due to factors including lifestyle,
relative close proximity of most major services and
improving road infrastructure. When oil prices shot
through the roof in 2007/08, these locations experienced
a softening of demand. One may expect that with the
completion of Tiger Brennan Drive, these areas may see
stronger interest.
|
