The price of renting in the Northern Territory is so high some are looking to buy instead | ABC News

ABC News (Australia) published this video item, entitled “The price of renting in the Northern Territory is so high some are looking to buy instead | ABC News” – below is their description.

Darwin’s rental market is continuing to soar with prices growing at faster rates than any other capital city in the country. Across the Northern Territory rentals have become so expensive some people are finding it’s cheaper to buy a home.

ABC News (Australia) YouTube Channel

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About This Source - ABC News (Australia)

The video item below is from ABC News (Australia). ABC News is a public news service in Australia produced by the News and Current Affairs division of the Australian Broadcasting Corporation.

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  • In This Story: Northern Territory

    The Northern Territory (aka NT) is a vast federal territory in Australia famed for its Outback desert landscapes. In the arid Red Centre lie the iconic sandstone monolith Uluru (Ayers Rock), the red-rock domes of Kata Tjuta and the sculpted cliffs of Kings Canyon in Watarrka National Park.

    Alice Springs is the gateway town to the Red Centre desert.

    The NT covers 1,349,129 square kilometres (520,902 sq mi). It is sparsely populated, with a population of only 245,353.

    The economy is based largely on mining and petroleum, which during 2018–2019 contributed 23% of the gross state product, or $5.68 billion, accounting for 92.4% of exports.

    The capital and largest city is Darwin. The population is concentrated in coastal regions and along the Stuart Highway.

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