The Northern Territory (NT) is a vast federal territory in Australia famed for its Outback desert landscapes. In the arid Red Centre lie the iconic sandstone monolith Uluru, the red-rock domes of Kata Tjuta and the sculpted cliffs of Kings Canyon in Watarrka National Park. Remote Alice Springs, the gateway town to the Red Centre desert, offers perspectives on Indigenous culture and there are a number of art galleries highlighting works by Indigenous artists. The capital Darwin sits at the northern point of NT and being at a latitude of 12 degrees south and fringed by essentially desert, is almost eternally hot and humid. That probably also explains why Darwin has the highest beer consumption per capita in Australia, and the world! Darwin is very multi-cultural but is probably more well-known for two other less pleasant events: the bombing by the Japanese in February 1942 and the devastation from Cyclone Tracey on Christmas Day in 1974.
Area: 1.42 million km² Population: 246,500 (Sept 2020)
Property Outlook
Despite having seen substantial price rises of over 20% during 2021, Darwin is one of the first places where a flattening out of prices is becoming apparent. In fact, the last quarter to 1 September saw a 2.4% increase only, with the last month showing a 0.1% fall in average selling price. Whether this is an early indicator of what may happen in other states is not yet clear.
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