16 December 2004
Dwelling Commencements Up
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Clare Martin MLA
Chief Minister and Acting Treasurer
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In line with stronger building approvals, Northern Territory dwelling commencements improved in the year to September 2004 by 21.7%.
Chief Minister and Acting Treasurer Clare Martin said according to just released ABS data, this equated to an increase in the number of commencements from 960 in the 12 months to the September quarter 2003 to 1168 in the 12 months to the September quarter 2004.
“Nationally, yearly growth for the same period was 1.7%. In comparison, a 21.7% increase in the Territory shows we are really moving ahead,” Ms Martin said.
“As our population and consumer confidence increases, this rise in the number of Territory dwelling commencements looks set to continue, although interest rates could have an influence on this.
“Residential construction and property markets continue to benefit from reduced stamp duty for first home buyers and the Principal Place of Residence stamp duty rebate introduced in August 2002 by the Territory Government.
“Government’s recent changes to the HomeNorth scheme are also helping to ensure housing remains the most affordable in Australia .
“The Territory Government will continue to assist home buyers and help keep the Territory moving ahead.
“Continuing growth in building approvals, housing finance commitments and dwelling commencements is good news for Territory business, good news for the construction industry and means more jobs for Territorians.”