Global Power | Local Knowledge | Uniquely Personal

New Northern Territory suburb t...

New Northern Territory suburb to be built

The Northern Territory government wants to push ahead with stage one of the new suburb, Kilgariff.

The Northern Territory government is looking for proposals for stage one of the building of a new suburb.

It hopes that building the suburb, Kilgariff, will help to make housing in Alice Springs, an area within the Northern Territory, more affordable and create more jobs.

Adam Giles, chief minister of the Northern Territory government said: "By developing Kilgariff, this government is ensuring there is land available to meet housing demand now and into the future as the economy and population of Alice Springs grows."

Stage one of Kilgariff will see land provided for 100 new houses to be built.

Building a new suburb is not the first measure that has been taken in Australia to make its famously 'unaffordable' housing market easier to access for buyers.

Cuts to the Reserve Bank of Australia's benchmark interest rate have helped to decrease the cost of housing finance. Meanwhile, wages throughout the country have been on the rise.

Posted by Steve Douglas

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

Subscribe Now