Regional NT March 2018

The month in review: Regional NT

By Herron Todd White
March 2018

Alice Springs

When we talk of the middle market in Alice Springs, it generally centres around the median price. In the year to December 2017 the Alice Springs house market had a median price of $470,000. The median price has been supported in recent months with the release of ex base houses which have generally been selling for between $460,000 and $470,000 and provide 3-bedrooms plus a study and 2-bathrooms. These houses are typically found in Gillen, with some in new East Side or for an increase in price, in Araluen.

It is worth noting that this sector of the market was generally flat year on year as well as over the past five years with a compound growth in the median price of only 1.56%. This is due to the high growth rates experienced throughout 2009 and 2010 which were not sustainable and we are still filtering through the impacts of this rapid growth.

While we are now more than six years down the track from those strong market conditions we are still expecting generally flat conditions in the middle market throughout 2018 while confidence slowly returns. Rental demand on the other hand has strengthened in the past six to eight months and will help to underpin a stable market going forward if stronger conditions continue.

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