The Northern Territory government has fast tracked the completion of 62 residential lots of Johnston Ridge, Palmerston a full three years ahead of schedule. With these accommodation figures growing across the region, now could be a great time to consider purchasing commercial property in the Northern Territory.
Minister for Lands, Planning and the Environment Peter Chandler said the government was working hard to ensure there was a steady supply of real estate available in the region, with growing opportunities for investment developing across the state.
"Three affordable house and land packages have also been reserved for release through the Territory Government's Home Buyer Initiative to eligible Territorians," said Mr Chandler in a 24 September statement.
"The entire development has delivered 284 residential lots accommodating over 550 dwellings, two parks, a commercial and community purpose site, walking trails and is adjoined by the historic WWII 17.5 mile camp."
With the state's rising population seeing a growth in accommodation availability, the strength of the local economy is expected to increase as well – providing a stable environment for commercial developments to take root and grow in the future.