News

 

2016-04-21 Economic Brief: APM House and Unit Prices March Quarter 2016

Median house price in Darwin: $613,118 (behind Sydney, Melbourne and Canberra). Median unit price increased by 14.9% to $493,746 - second highest median unit price behind Sydney.

2016-04-18 Economic Brief: Deloitte Access Economics March quarter 2016

The Northern Territory is expected to have the 3rd highest economic growth of all jurisdictions in 2015-16… estimated to grow by 2.7%. The outlook is for the Territory economy to grow by an average of 3.2% pa over the 5 years to 2019-20… the 2nd highest economic growth forecast of all jurisdictions behind Queensland (3.5% pa) (DAE forecasts the national economy to grow by an average annual rate of 2.6% over that period)

DAE notes that exports are expected to replace the construction phase of resource development as the key driver of Territory economic growth over the medium term. Territory economic growth over the next 5 years to 2019-20 is expected to be supported by: international goods exports which are forecast to increase by an average of 11.7% pa.

2015-16 to 2019-20, employment in the NT is forecast to grow on average by 1.5% pa… the NT’s unemployment rate is forecast to average 4.5% over the 5 years to 2019-20, compared to 5.9% nationally, (the lowest average annual unemployment rate of all jurisdictions). DAE forecasts the Darwin CPI growth to strengthen to 2.2% by 2019-20.

2016-04-27 Gastech News: INPEX sees positive growth for LNG in Japan

Yutaka Inoue, General Manager Oil & Gas Business, Gas Business Unit at INPEX: “Ichthys LNG Project, of which we are the Operator, is the first, large-scale LNG project to be operated by a Japanese company. It is a competitive, liquid-rich project with a life expectancy of 40 years, with an annual production capacity volume of 8.9 million tons of LNG. We expect this project will play a key role in our mission of delivering a stable and efficient supply of energy to Japan. From a medium-to-long-term perspective, we will ensure that our key projects like Ichthys, Abadi and the ADCO Onshore Concession are solidly developed or operated, while continuing to invest in new business opportunities to ensure sustainable growth.”

2016-04-19 NT News: Land of opportunity

Gina Rinehart pitches Territory… “This area… does indeed represent one of the world’s last great development opportunities of scale… We will see Asian connectivity as a key driver to Northern Australia growth. There is amazing potential for the discovery and development of new resources in this geological region.”

2016-04-21 The Australian: Feds ready for $5bn northern scheme

The federal government is moving fast on its plans to develop high-value agriculture in northern Australia, with Resources, Energy and Northern Australia Minister Josh Frydenberg ready to distribute the first funds from $5 billion Northern Australia Infrastructure Fund harnessing the abundant “untapped’’ water in northern Australia would be a key focus of the government’s first spending initiatives... priorities (such) as building dams and irrigation schemes on the Victoria and Roper rivers in the Northern Territory. Raising the height of the dam wall of vast Lake Argyle, which supplies the Ord irrigation scheme centred on Kununurra… is also part of the government’s grand plan for northern Australia.

2016-04-20 Minister Frydenberg: Global Food Forum: Australia's Place at the Table

“Our proximity to markets in Asia presents us with considerable opportunities over other agricultural producers. We are right on the doorstep of the booming middle-class in Asia. As some of you may be aware, Darwin is closer to Singapore than it is to Sydney and closer to Jakarta than it is to Melbourne, so there are huge opportunities, particularly for our north.”

2016-04-25 ABC Rural: Tropical Forestry Services begins 1,200 hectares of Indian sandalwood plantings in the Northern Territory

TFS is expecting to plant around 1,200 hectares of sandalwood this year across its properties in the Douglas Daly and Katherine regions… The seedlings being planted at Mustang Hill came from TFS's $3.5 million nursery opened in Katherine last month.

2016-04-21 Northern CRC Interim Chair Jon Wharton: Northern CRC taking shape

Northern Australian Cooperative Research Centre will be formally launched in late June… the CRC would kick-off with a $75M commitment from the federal government over 10 years but financial and in-kind contributions from industry research partners could produce a combined research spend of up to $200M…

“Project applicants need to contribute $ per $ funding or make in-kind contributions to research projects… Townsville and Darwin ports are just sitting there ready to go so we need to be moving these products out of those ports. Gone are the days where we sent everything back down to Brisbane – that’s the old way and this is the new way.”

2016-04-27 NT News: Marines size up China

US defence spending in Australia is expected to top more than $2.5 billion over the next few years, with the bulk expected to be spent in the Territory.

2016-04-19 news.com.au: Top military commander says US military on track to grow its presence in Northern Australia

Lieutenant Colonel Steven Sutey, commander of this year’s annual Marine Rotational Force Darwin, says the US military is “on track” to grow its numbers in northern Australia… this year’s force was the 3rd battalion-sized group to come to Darwin… “This rotation will bring different capabilities than previous rotations… we’re also bringing with us additional logistic and engineer capabilities that will allow us to expand out training and operations down here in Australia.”

2016-04-22 NT News: Fund an Australian first

A $1 billion infrastructure development fund established by the Giles Government will be the first of its kind in Australia… a pipeline of potential projects had been identified… (they) covered gas, tourism, water and renewable energy… Infrastructure Capital Group (investment manager) expects to open an office in Darwin in the next few months.

2016-04 Regional Australia: bringing small cities into the National Cities Agenda

Population is one of the key drivers of development and growth in Australia… Small cities in Northern Australia top the growth list with a projected population growth rate of over 25% in the next decade.

2016-04-27 Media Release:
Key bilateral talks building strong regional ties with Timor-Leste

Six senior ministers from Timor-Leste arrived in Darwin … led by Minister of State, Coordinating Minister of Economic Affairs & Minister of Agriculture and Fisheries, His Excellency Mr Estanislau da Silva… The NT is the only State or Territory jurisdiction in Australia to host a meeting of this nature with Timor-Leste counterparts who hold national-level portfolios.

2016-04-27 Media Release: International Education Relations

Minister for Education launched the Northern Territory Indonesia Alumni Network… 70 people attended the networking event, including Indonesian ministers and Consul, Indonesian alumni of Northern Territory schools and universities and Territorians who have participated in exchanges to Indonesia over the past 40 years.

2016-04-26 CDU e-news: International education ‘could bring NT $150m’

Charles Darwin University academic has calculated that the Territory’s international education exports could triple to $150 million a year within a decade. Northern Institute political economist Professor Rolf Gerritsen said this would see international education rise to 5th on the list of export earners for the NT, up from its current 10th placing.

“The international education sector is a promising industry for the NT and will grow in importance, both absolutely and relative to other export industries... A more realistic 10% per annum growth rate would be sufficient to triple the international student cohort to about 4,500 by 2024. As an export earner, that would place it behind the natural gas, base metal, tourism and live animal export industries in 5th place, which would more closely reflect the national position, where international education is the largest service sector export… It creates more than 500 (full-time equivalent) jobs in Darwin’s economy, so it is an increasingly important contributor to the NT regional economy.”


Disclaimer

The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate.

2016-04-16 NT News: CoreLogic RP Data

Darwin property values are up this quarter with the median home price sitting at a little over half a million dollars… $575,000, while aspiring unit owners have a median of $460,000… prices rose 2.1% in the month of March and 2.4% for the first quarter of 2016.

2016-04-15 LNG Industry: Ichthys

Speaking at the LNG 18 conference in Perth, Australia, Managing Director of the Ichthys LNG project, Louis Bon, provided an update on the project… “Onshore in Darwin we are more than half way through construction at Bladin Point. We are 81% complete and on target for first production in the third quarter of 2017… The Ichthys joint venture participants have the opportunity to add 4 more production trains fed by Browse Basin and Bonaparte Basin gas, which is now far more accessible because of the Ichthys gas export pipeline.”

2016-04-14 NT Business Review: Defence

Defence infrastructure investment in the Northern Territory over the next 10 years is anticipated to be in the order of $8bn.

2016-04-13 Defence Media Release: Arrival of 5th rotation of US Marines in Darwin

This year’s rotation will include around 1,250 US Marines, a detachment of 4 Bell UH-1Y Venom helicopters and a range of equipment. The Marines will be accommodated within Defence facilities at Robertson Barracks, RAAF Base Darwin and Defence Establishment Berrimah.

2016-04-13 ABC Rural:
Mitsui looks to northern Australia for agribusiness opportunities, including soybeans

Mitsui Australia's vice president Wendy Holdenson said the company had a long history in the Australian resources sector, but the time was now right to further diversify into the food sector. "We believe there's potential to boost live cattle exports from northern Australia to Asia, and in grain and soy we think there's tremendous potential.”

2016-04-11 Sydney University/KPMG Demystifying Chinese investment in Australia

Chinese ODI: Northern Territory has attracted $564.5M of Chinese investment in 2015, placing it ahead of SA, WA and Tasmania for the first time. (NSW: 49%, Vic 34%, Qld 9%, NT 4%, SA 3%, WA 1%)

2016-04-14 NT Business Review: Conventional Tourism

The business events industry is worth an estimated $70 million a year to the NT economy.

2016-04-14 Economic Brief: Labour Force March 2016

The Territory’s trend unemployment rate was 4.5%, and trend participation rate was 73.7%. (nationally 5.8% and 65%).

2016-04-07 Economic Brief: APM House and Unit rents March quarter 2016

Asking rent for houses in Darwin in the March quarter: $550 (highest of the capital cities). Asking rent for units: $450 (2nd highest of all capital cities behind Sydney)

2016-04-07 Property Observer: CoreLogic RP Data rental index March 31, 2016

Yields: Darwin 5.2% (highest capital city yield)

2016-04-09 Sydney Morning Herald:
Inpex Corporation chief sees big future for LNG mega-project

President and chief executive Toshiaki Kitamura has emphasised the "robust" economics of the huge project even at current depressed oil prices. The long-term strategic value of expanding the LNG project near Darwin "remains unchanged", he said. Ichthys LNG, Japan's largest single investment in Australia, is more than 80% built, with production from the 8.9 million tonnes-a-year plant on Darwin Harbour due to commence in the September quarter next year…

"Even looking beyond the 15-year sales and purchase agreements now in place, a long-term, sustained growth in LNG demand in the Asia-Pacific region, and particularly in emerging Asia, will mean that there will continue to be opportunities for the project in the long term…" The capacity of the project has been increased 6% since it was first envisaged, while the offshore Ichthys field in the Browse Basin is also Australia's largest liquids discovery since the Bass Strait fields in the late 1960s, further helping project economics. "An increase in production capacity will increase the opportunities to respond to the wide-ranging requirements of LNG buyers, thereby improving the value of the project,"Mr Kitamura said. He also remains confident of prospects for expansion down the track, with the Darwin site offering enough space to add four LNG processing trains beyond the two under construction. He pointed to "high exploration potential" in Inpex's offshore exploration blocks near the Ichthys field as well as the possibility of a discovery "of commercial proportions" in Inpex's onshore unconventional exploration acreage in the Northern Territory.

2016-04-04 Media Release: landmark talks with ASEAN representatives

Canberra-based Heads of Mission of the Association of South East Asian Nations are visiting the Territory together for the first time, as part of the inaugural Open Territory Program.

2016-04-06 Fruitnet.com: Opportunities for agribusiness in northern Australia

The 2016 CSIRO report ‘Unlocking the potential of northern Australia’… examined the region's soil and found 16m ha of soil suitable for “intensive” agriculture, that could be suitable for more than 70 different crops, including mangoes and melons. The report found a renewed interest in northern Australia due to its proximity to Asia.

2016-04-11 CDU E-news: CDU ranks higher among world’s young unis

Charles Darwin University is continuing to climb the list of the world’s best universities that are less than 50 years old. The Northern Territory’s only university has been listed in joint 31st position in The Times Higher Education “150 Under 50 Rankings 2016”, which identifies the top 150 universities around the world that are aged less than 50 years old… CDU Vice-Chancellor Professor Simon Maddocks: “Not only has CDU risen for the 5th consecutive year, but this year we also have risen 17 points in a larger pool of universities”

2016-04-11 NT News: Marines invasion on way

This year’s rotation will be made up of Marines from the 1st Battalion, 1st Marine Regiment… About 1150 Marines were stationed in the Top End last year and numbers this year are expected to be the same.

2016-04-06 Australian: NT expansion

National Storage REIT has expanded into the Northern Territory, paying $10.75m for a Space Base storage facility within reach of Darwin’s airport with strong exposure to passing traffic.

2016-04-07 Economic Brief: Sensis Business Index March 2016

The Sensis Business Index March 2016 reports that the net balance confidence level of Territory small and medium enterprises their own business prospects over the next 12 months increased by 3 percentage points to +27%...

2016-04-05 Economic Brief: International Exports February 2016

In the year to February 2016, the NT’s top 3 goods exports destinations were Japan ($2.3bn, LNG exports from the Darwin LNG plant), China ($1.1bn, mineral ores) and Thailand ($469M, petroleum products from the Montara Oil Field)



Disclaimer

The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate.

2016-04-07 Economic Brief: APM House and Unit rents March quarter 2016

Asking rent for houses in Darwin in the March quarter: $550 (highest of the capital cities).

Asking rent for units: $450 (2nd highest of all capital cities behind Sydney)

2016-04-07 Property Observer: CoreLogic RP Data rental index March 31, 2016

Yields: Darwin 5.2% (highest capital city yield)

2016-04-09 Sydney Morning Herald:
Inpex Corporation chief sees big future for LNG mega-project

President and chief executive Toshiaki Kitamura has emphasised the "robust" economics of the huge project even at current depressed oil prices. The long-term strategic value of expanding the LNG project near Darwin "remains unchanged", he said. Ichthys LNG, Japan's largest single investment in Australia, is more than 80% built, with production from the 8.9 million tonnes-a-year plant on Darwin Harbour due to commence in the September quarter next year…

"Even looking beyond the 15-year sales and purchase agreements now in place, a long-term, sustained growth in LNG demand in the Asia-Pacific region, and particularly in emerging Asia, will mean that there will continue to be opportunities for the project in the long term…" The capacity of the project has been increased 6% since it was first envisaged, while the offshore Ichthys field in the Browse Basin is also Australia's largest liquids discovery since the Bass Strait fields in the late 1960s, further helping project economics. "An increase in production capacity will increase the opportunities to respond to the wide-ranging requirements of LNG buyers, thereby improving the value of the project," Mr Kitamura said. He also remains confident of prospects for expansion down the track, with the Darwin site offering enough space to add four LNG processing trains beyond the two under construction. He pointed to "high exploration potential" in Inpex's offshore exploration blocks near the Ichthys field as well as the possibility of a discovery "of commercial proportions" in Inpex's onshore unconventional exploration acreage in the Northern Territory.

2016-04-04 Media Release: landmark talks with ASEAN representatives

Canberra-based Heads of Mission of the Association of South East Asian Nations are visiting the Territory together for the first time, as part of the inaugural Open Territory Program.

2016-04-06 Fruitnet.com: Opportunities for agribusiness in northern Australia

The 2016 CSIRO report ‘Unlocking the potential of northern Australia’… examined the region's soil and found 16m ha of soil suitable for “intensive” agriculture, that could be suitable for more than 70 different crops, including mangoes and melons. The report found a renewed interest in northern Australia due to its proximity to Asia.

2016-04-11 CDU E-news: CDU ranks higher among world’s young unis

Charles Darwin University is continuing to climb the list of the world’s best universities that are less than 50 years old. The Northern Territory’s only university has been listed in joint 31st position in The Times Higher Education “150 Under 50 Rankings 2016”, which identifies the top 150 universities around the world that are aged less than 50 years old… CDU Vice-Chancellor Professor Simon Maddocks: “Not only has CDU risen for the 5th consecutive year, but this year we also have risen 17 points in a larger pool of universities”

2016-04-11 NT News: Marines invasion on way

This year’s rotation will be made up of Marines from the 1st Battalion, 1st Marine Regiment… About 1150 Marines were stationed in the Top End last year and numbers this year are expected to be the same.

2016-04-06 Australian: NT expansion

National Storage REIT has expanded into the Northern Territory, paying $10.75m for a Space Base storage facility within reach of Darwin’s airport with strong exposure to passing traffic.

2016-04-07 Economic Brief: Sensis Business Index March 2016

The Sensis Business Index March 2016 reports that the net balance confidence level of Territory small and medium enterprises their own business prospects over the next 12 months increased by 3 percentage points to +27%...

2016-04-05 Economic Brief: International Exports February 2016

In the year to February 2016, the NT’s top 3 goods exports destinations were Japan ($2.3bn, LNG exports from the Darwin LNG plant), China ($1.1bn, mineral ores) and Thailand ($469M, petroleum products from the Montara Oil Field)


Disclaimer

The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate.

12 O’Sullivan Circuit, East Arm NT 0822 +61 08 8943 7300 enquiries@ gwelodevelopments.com.au

Gwelo Developments has built a strong reputation in Darwin since 1975 and the company is well known and respected. Its developments have stood the test of time and been highly innovative and the Gwelo team is a strong team of long established professionals. Skills encompass a full range of construction and project management, commercial developments and residential design providing outstanding home owner, commercial, retail and investor options.

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