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Northern Territory development fees are still good value

Despite development application fee increases, the Northern Territory remains a cheaper place to build than other states.

The minister for Lands, Planning and Environment in the Northern Territory has defended the recent rise in development application fees in the state by insisting they remain lower than in other parts of the country, according to Australian Property Investor magazine.

Regarding the new charges, which came into effect on January 1st, Peter Chandler has insisted that applications in the Northern Territory remain better value than in other regions of the country.

Mr Chandler cited areas such as Newcastle, Lake Macquarie and Canberra, where the basic application fees for a $450,000 development are upwards of double the cost of a similar application in the Northern Territory.

However, property investors will be unable to overlook the fact that a planning application for a development with a cost of between $250,000 and $1 million has increased significantly overnight, jumping from $662 to $828.

Whether or not this has an effect on the number of investors in the state's property market this year remains to be seen.

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