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NT sees rise in new dwelling commencements

By Nick Syrimi

Who doesn't like more choice? Whether you're buying groceries at the market or putting a deposit on a house, there's no doubt that having more to choose from is a good thing.

In fact, when it comes to homes, greater choice is about more than just options – it can also translate to lower prices. Supply and demand plays a large role in how much a home costs, and more supply often means fewer dollar signs.

With that in mind, the news that new dwelling commencements increased by 8.7 per cent during the March 2014 quarter should come as good news to buyers throughout Australia, including those in the Northern Territory.

"The annual level of new dwelling commencements is at its highest since late 2010 and at 176,891 is approaching historical peaks, with further upward momentum to come," Housing Industry Association chief economist Harley Dale said in a 15 July media release.

The NT beat out both South Australia and Queensland when it came to new dwelling commencements, seeing a 5.9 per cent increase during the March 2014 quarter.

If you're considering purchasing property in Moil or surrounding suburbs in the Darwin area, more homes to choose from could benefit your bottom line.

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