Territorians are paid more that the average Australian wage, the ABS reported. The average annual pay in the NT is $51,090 compared to a national rate of $50,762.

AN EMERGING GLOBAL ENERGY CENTRE
Darwin is fast becoming a global energy centre. As work nears completion on the world’s largest above ground LNG tank ($1.6 billion). Several projects are expected to come online.  They include the new offshore gas field, Blacktip worth $500 million; new gas processing plant at Wadeye worth $180 million; Proposed 940 km pipeline from Wadeye to the Gove Peninsula worth $500 million. (NT Business Review, May 05). 

Current negotiations between Australia and East Timor are expected to finally unlock the gas and oil riches off the Timor Sea. Especially those of the Greater Sunrise field about 450km northwest of Darwin.

“It will create jobs, expand business and investment opportunities and aid the nation’s wealth and strengthen the economic development of northern Australia and in particularly the NT.” The gas is worth $41 billion. (NT Business Review, Clare Martin – NT Chief Minister, May 05).

“The still underdeveloped Greater Sunrise gas field – three times the size of Bayu-Undan, has the potential to create 80,000 jobs Australia wide – 20,000 in the Northern Territory.” (Bruce Fadelli President NT chamber of Commerce, Four Corners ABC TV May 04).

A BOOMING TOURISM SECTOR
Darwin features a strong tourist industry and the region’s Crocodile Dundee image attracts tourists from all over the world to the splendors of Kakadu and Litchfield National Parks, the Katherine Gorge to the South and the Tiwi Islands just 100klms to the north of Australia.  Tourism is now the Territory’s biggest employer.

• There is a chronic shortage of quality hotel rooms currently available
• The NT Government has committed more than $60 million into tourism infrastructure and an additional $27.5 million is being spent overseas selling Destination Darwin. This campaign alone is expected to create 950 additional jobs. (Source NT News 15/11/04) 
• Access Economics forecast a 28% + increase in international arrivals this year.
• The Ghan, one of the world’s great trains provides a transcontinental link to Adelaide 2,979 klms in the south of Australia with touring options along the way at Alice Springs (just 280miles from Ayers Rock - the world’s largest monolith) and Katherine Gorge.  This train alone brings 1,000 tourists a week to Darwin and extra Ghan trains have been added to cope with the demand.  From Adelaide it links with rail services to Perth in the West, Melbourne, Sydney, Canberra and Brisbane in the East.
• Aboriginal land and culture is a major draw card for thousands of visitors to Darwin each year. The presence of indigenous art and culture in the Northern Territory is stronger here than anywhere else in Australia.
• Qantas has added 750 more seats weekly on the Sydney-Darwin route during the Dry and Virgin Blue will be offering a daily Sydney service during the next three months. 
• Cruise ship visitors contribute more than $10 million annually to the NT economy. Eighteen cruise ships are scheduled to berth in the next 10 months.

A STATE GOVERNMENT COMMITTED TO GROWTH
Chief Minister, Clare Martin’s government is committed to fuelling and supporting strong economic growth, with greater funding than ever before. “Treasurer Syd Stirling promised Tax cuts worth $40 million over the five years….including record payroll tax cuts, making the Territory the lowest taxing jurisdiction for a small business with up to 100 staff from July 26 2005…the Treasurer also earmarked $476 million for infrastructure, part of which will go towards the $600 million redevelopment of Darwin’s waterfront.” “It’s growth, is going to transform Darwin, it’s going to make Darwin like no other city in Australia.” Mr Stirling said. “This is going to be a milestone in Darwin’s history – not only will it create thousands of local jobs…it will provide a draw card for conventions and tourists for many, many years into the future.” (AFR 4/5/05)

WHY INVEST IN PROPERTY IN DARWIN?
The differential between property values in Darwin and the eastern seaboard markets of Sydney, Melbourne & Brisbane makes it possible to buy a CBD property in Darwin for what represents outstanding value by comparison.  For example:

Sydney CBD/waterview  $10,000+ per square metre.
Brisbane CBD/waterview $8,000+ per square metre.
Darwin CBD/waterview  $5,000+ per square metre.

Latest figures show that the Darwin property market is booming.  Brisbane, Perth and Darwin are forecast to show the strongest growth in house prices over the next three years. With Northern Territory prices forecast to rise by 20.8% over the three years to June 2007. (BIS Shrapnel Residential Property Prospects – Update December 2004).

“Darwin’s housing boom is set to continue for at least another four years before leveling, property experts have predicted.” (NT News, REINT)  The Northern Territory Real Estate Institute predicts that prices will go up by 6% to 7% per year for the next 6 years. (NT News Dec 04)  According to the Australian Property Monitors, “Darwin’s median house price was up by 14.7% year ending 2004. (SMH Domain Dec 04) Median house prices in Darwin are forecast to rise by 22% over the 2004 to 2007 period, with population increasing to an inflow of 1,000 by 2005/06.” (BIS Shrapnel, Residential Property Prospects, May 2004)

The average annual occupancy in CBD serviced apartments for the period 2003-04 was over 70% with an average room rate of $122 per night. (Source: Mike Jones, Resort Brokers and Prime Investment Marketing Report Oct. 04)

The defence community in Darwin has almost doubled since the early 1990’s with the number of defence personnel and their families increasing from about 6200 in June 92 to an estimated 12,900 by June 2004. The presence of defence forces has put enormous pressure on housing stock in Darwin. (AFR Sept 04)

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